Archer Daniels Midland Company (NYSE: ADM) today announced the
following consideration to be paid in its previously announced cash
tender offers for up to $1,000,000,000 aggregate purchase price of
its outstanding debentures (the “Debentures”).
Up to $1,000,000,000 Aggregate Purchase
Price of the Outstanding Debentures Listed Below
Title of Security(CUSIP
No.)
Maximum Tender Amount
AcceptancePriority Level
U.S.
TreasuryReferenceSecurity
Fixed Spread(Basis
Points)
Early TenderPayment*
TotalConsideration*
6.950% Debentures due 2097(039483 AP7) N/A 1
2.500% dueFebruary 15, 2045
+170 bps $30.00 $1,438.63 5.375% Debentures
due 2035(039483 AU6) N/A 2
2.500% dueFebruary 15, 2045
+95 bps $30.00 $1,181.42 5.765% Debentures due
2041(039483 BC5) N/A 3
2.500% dueFebruary 15, 2045
+100 bps $30.00 $1,262.55 5.935% Debentures
due 2032(039483 AT9) N/A 4
2.500% dueFebruary 15, 2045
+85 bps $30.00 $1,246.38 6.625% Debentures due
2029(039483 AR3) N/A 5 2.125% dueMay 15, 2025
+155 bps $30.00 $1,288.40 6.750% Debentures
due 2027(039483 AN2) N/A 6 2.125% dueMay 15,
2025 +145 bps $30.00 $1,289.85 7.500%
Debentures due 2027(039483 AM4) N/A 7 2.125%
dueMay 15, 2025 +145 bps $30.00 $1,346.23
7.000% Debentures due 2031(039483 AS1) N/A 8
2.500% dueFebruary 15, 2045
+95 bps $30.00 $1,338.26 6.450% Debentures due
2038(039483 AX0) N/A 9
2.500% dueFebruary 15, 2045
+105 bps $30.00 $1,334.42 8.375% Debentures
due 2017(039483 AH5) N/A 10 0.625% dueMay 31,
2017 +25 bps $30.00 $1,131.43 4.479%
Debentures due 2021(039483 BB7) $250,000,000(a) 11
1.375% dueApril 30, 2020 +50 bps $30.00
$1,120.94
* Per $1,000 principal amount of Debentures accepted for
purchase
(a) Subject to a maximum tender amount of $250,000,000 aggregate
principal amount as described in the Offer to Purchase
The reference yield was determined by Barclays Capital Inc.,
BofA Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan
Securities LLC, the lead dealer managers for the tender offers,
based on the bid-side price for the applicable U.S. Treasury
security at 11:00 a.m., New York City time, today, as described in
the Offer to Purchase dated June 1, 2015.
Holders who tender Debentures by 5:00 p.m., New York City time,
on June 30, 2015, will be eligible to receive the applicable total
consideration (which includes the applicable early tender payment
set out above).
In addition, holders of Debentures accepted for purchase will be
paid accrued interest to but excluding the settlement date.
Withdrawal rights for the tender offers expired at 5:00 p.m., New
York City time, on June 12, 2015.
The company will only purchase up to $1,000,000,000 aggregate
purchase price of the Debentures in the tender offers, and the
amount of each series of Debentures that will be purchased will be
determined in accordance with the Acceptance Priority Levels set
forth above and may be prorated as described in the Offer to
Purchase. In addition, the aggregate principal amount of the 4.479%
Debentures due 2021 (the “2021 Notes”) that may be purchased is
subject to a maximum tender amount of $250,000,000 as described in
the Offer to Purchase. Because, as previously disclosed, the
principal amount of the 2021 Notes tendered already exceeds such
maximum tender amount, any 2021 Notes that are purchased after
applying the aggregate purchase price limitation and the Acceptance
Priority Levels will be prorated.
The consummation of the tender offers is conditioned upon the
satisfaction or waiver of the conditions, including the financing
condition, set forth in the Offer to Purchase.
For additional information regarding the terms of the tender
offers, please contact: Barclays Capital Inc. at (800) 438-3242
(toll-free) or (212) 528-7581 (collect); BofA Merrill Lynch at
(888) 292-0070 (toll-free) or (980) 387-3907 (collect); Citigroup
Global Markets Inc. at (800) 558-3745 (toll-free) or (212) 723-6106
(collect); or J.P. Morgan Securities LLC at (800) 834-4666
(toll-free) or (212) 834-4811 (collect). Requests for documents and
questions regarding the tendering of Debentures may be directed to
D.F. King & Co., Inc. at (866) 342-8290 (toll free) or (212)
269-5550 (collect) or at adm@dfking.com.
ADM’s obligations to accept any Debentures tendered and to pay
the applicable consideration for them are set forth solely in the
Offer to Purchase and related Letter of Transmittal. This press
release is not an offer to purchase or a solicitation of acceptance
of the tender offers. Subject to applicable law, ADM may amend,
extend or, subject to certain conditions, terminate the tender
offers.
About ADM
For more than a century, the people of Archer Daniels Midland
Company (NYSE: ADM) have transformed crops into products that serve
the vital needs of a growing world. Today, we’re one of the world’s
largest agricultural processors and food ingredient providers, with
more than 33,000 employees serving customers in more than 140
countries. With a global value chain that includes more than 460
crop procurement locations, 300 ingredient manufacturing
facilities, 40 innovation centers and the world’s premier crop
transportation network, we connect the harvest to the home, making
products for food, animal feed, chemical and energy uses.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150615006236/en/
Archer Daniels Midland CompanyMedia
RelationsJackie Anderson, 312-634-8484media@adm.com
Archer Daniels Midland (NYSE:ADM)
Historical Stock Chart
From Apr 2024 to May 2024
Archer Daniels Midland (NYSE:ADM)
Historical Stock Chart
From May 2023 to May 2024