Bunge Ltd. on Sept. 4 priced a public offering of $600 million aggregate principal amount of 4.35% senior notes due 2024 to fund its previously announced cash tender offer to purchase the same amount of 8.50% senior notes due 2019.
The New York-based agribusiness and food company said it will use the proceeds to pay any related premium, fees and expenses in the cash tender offer, while the remaining net proceeds will be used for general corporate purposes.
The transaction is expected to close Sept. 10.
J.P. Morgan Securities LLC, HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC, SMBC Nikko Securities America Inc., ABN AMRO Securities (USA) LLC, ING Financial Markets LLC, Natixis Securities Americas LLC and Rabo Securities USA Inc. are acting as joint book-running managers for the senior notes offering. BMO Capital Markets Corp., BNP Paribas Securities Corp., Commerz Markets LLC, Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc., Mizuho Securities USA LLC, SG Americas Securities LLC and U.S. Bancorp Investments Inc. are acting as senior co-managers.
ANZ Securities Inc., Barclays Capital Inc., BB Securities Ltd., BBVA Securities Inc., DZ Financial Markets LLC, ICBC Standard Bank PLC, Loop Capital Markets LLC, Merrill Lynch Pierce Fenner & Smith Inc., PNC Capital Markets LLC, Scotia Capital (USA) Inc., Standard Chartered Bank, SunTrust Robinson Humphrey Inc., UniCredit Capital Markets LLC and Wells Fargo Securities LLC are acting as co-managers.