By Rebecca Melvin
New York, Sept. 15 – Adecoagro SA priced $500 million of 10-year senior notes (expected ratings: Ba2/BB) at par to yield 6% on Friday, according to a news release.
Proceeds from the Rule 144A and Regulation S offering will be used to repay existing debt and for general corporate purposes.
Adecoagro is an agricultural company in South America with headquarters in Luxembourg. Its products include corn, wheat, soybeans, rice, dairy products, sugar, ethanol and electricity.
| Issuer: | Adecoagro SA
|
| Amount: | $500 million
|
| Maturity: | Sept. 21, 2027
|
| Description: | Senior unsecured notes
|
| Coupon: | 6%
|
| Price: | Par
|
| Yield: | 6%
|
| Trade date: | Sept. 15
|
| Expected ratings: | Moody’s: Ba2
|
| S&P: BB
|
| Distribution: | Rule 144A and Regulation S
|
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