By Cristal Cody
Eureka Springs, Ark., Aug. 8 – Archer-Daniels-Midland Co. sold $1 billion of 2.5% 10-year notes with a spread of 95 basis points over Treasuries, according to a FWP filing with the Securities and Exchange Commission on Monday.
The notes due Aug. 11, 2026 (A2/A/A) priced at 99.71 to yield 2.533%.
BNP Paribas Securities Corp., HSBC Securities (USA) Inc., Deutsche Bank Securities Inc., MUFG and Barclays were the bookrunners.
Proceeds will be used for general corporate purposes, including to repay a portion of outstanding commercial paper debt.
The Chicago-based company processes agricultural commodities and manufactures food and feed ingredients.
| Issuer: | Archer-Daniels-Midland Co.
|
| Amount: | $1 billion
|
| Description: | Notes
|
| Maturity: | Aug. 11, 2026
|
| Bookrunners: | BNP Paribas Securities Corp., HSBC Securities (USA) Inc., Deutsche Bank Securities Inc., MUFG, Barclays
|
| Co-managers: | Citigroup Global Markets Inc., J.P. Morgan Securities LLC and BofA Merrill Lynch
|
| Coupon: | 2.5%
|
| Price: | 99.71
|
| Yield: | 2.533%
|
| Spread: | Treasuries plus 95 bps
|
| Trade date: | Aug. 8
|
| Settlement date: | Aug. 11
|
| Call feature: | Before May 11, 2026 at greater of par and sum of Treasuries plus 15 bps; thereafter at par
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A
|
| Fitch: A
|
| Distribution: | SEC registered
|
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