Market Overview

ADM Announces Pricing of Private Exchange Offers


Archer Daniels Midland Company (NYSE: ADM) announced today the pricing terms of its previously announced private offers to exchange up to $600,000,000 of its outstanding debentures listed below (collectively, the “Old Debentures”) for new senior debentures due 2043 (the “New Debentures”) and cash (the “Exchange Offers”), established as of 2:00 p.m., New York City time, on September 27, 2012 (the “Pricing Time”) in accordance with ADM's confidential offering memorandum dated September 14, 2012 (the “Offering Memorandum”) and the related letter of transmittal. ADM also announced that the annual interest rate on the New Debentures will be 4.016%, which has been determined in accordance with the Offering Memorandum. The Reference United States Treasury Security used to determine the coupon on the New Debentures and the total exchange price to be received in each Exchange Offer (the “Total Exchange Price”) for all of the Old Debentures is the 3.00% United States Treasury due May 15, 2042 (the “Reference Treasury”). The bid-side yield of the Reference Treasury as of the Pricing Time was 2.816%.

Set forth in the table below is the Total Exchange Price for each $1,000 principal amount of Old Debentures validly tendered (and not validly withdrawn) and accepted by ADM at or prior to 5:00 p.m., September 27, 2012 (the “Early Participation Date”), determined in accordance with the Offering Memorandum, and the consideration to be received for the Total Exchange Price for each series of Old Debentures

Posted-In: News Financing


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