Archer-Daniels-Midland to sell senior notes via five bookrunners

By Mary-Katherine Stinson

Lexington, Ky., March 29 – Archer-Daniels-Midland Co. plans an offering of senior notes, according to a 424B2 filing with the Securities and Exchange Commission.

The notes have a make-whole call followed by a par call.

They will be putable at 101 due to a change of control.

BofA Securities, Inc. and Citigroup Global Markets Inc. are the joint bookrunning managers for offering.

Barclays, Deutsche Bank Securities Inc. and MUFG Securities Americas Inc. are also bookrunners.

Bank of New York Mellon is the trustee.

Faegre Drinker Biddle & Reath LLP will act as counsel for the company. Mayer Brown LLP will advise the underwriters.

Proceeds will be used for general corporate purposes, which may include repayment of the company’s commercial paper. As of Dec. 31, the company’s outstanding commercial paper was $300 million, had a weighted average interest of 4.32% and had a weighted average maturity of eight days.

The Chicago-based company processes agricultural commodities and manufactures food and feed ingredients.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.