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Monsanto Co Announces $1 Billion Debt Issue


Monday, 4 Nov 2013 06:00pm EST 

Monsanto Co announced a $1 billion public debt offering, with $400 million in 3-year bonds, $300 million in 5-year bonds and $300 million in 30-year bonds. The 3-year floating rate notes will bear interest at a rate equal to three month LIBOR, reset quarterly, plus 0.20%. These notes mature on November 7, 2016 with a first interest payment date of February 7, 2014. The 5-year notes will be issued at 99.861% and bear interest at 1.85%, resulting in a yield of 1.879%. These notes mature on November 15, 2018 with a first interest payment date of May 15, 2014. The 30-year notes will be issued at 99.951% and bear interest at 4.65%, resulting in a yield of 4.653%. These notes mature on November 15, 2043 with a first interest payment date of May 15, 2014. The company intends to use the net proceeds received from the sale of the notes, together with available cash, to repay commercial paper issued to finance the acquisition of The Climate Corporation, and for other general corporate purposes. 

Company Quote

115.65
-0.11 -0.09%
4:02pm EDT