John Deere Capital, the equipment-financing unit of Deere & Company, is raising $750 million in a sale of medium-term notes in two parts, The Wall Street Journal reports. Bank of America Merrill Lynch, Barclays and JP Morgan are the joint bookrunning managers for the deal.
The $250 million notes to be sold in the first tranche are due to mature on March 3, 2014. The $750 million notes sold in the second tranche carry a coupon rate of 1.60% and are due to mature on March 3, 2014.
Click here for the story from The Wall Street Journal.Click here for additional coverage from Reuters.