Ingredion to Offer $300M 1.8% Senior Notes
Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredients solutions to diversified industries, today announced an offering of $300 million aggregate amount 1.800 percent senior notes due September 25, 2017.
The offering was made pursuant to a registration statement filed with the U.S. Securities and Exchange Commission. The transaction is expected to close on September 20, 2012, subject to customary closing conditions.
Ingredion plans to use approximately $200 million of the net proceeds of the offering to repay outstanding indebtedness under its revolving credit facility and to use the remaining net proceeds for general corporate purposes.
J.P. Morgan Securities LLC, Merrill Lynch, Pierce Fenner & Smith Incorporated and Citigroup Global Markets Inc. acted as joint book-running managers for the offering.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.