Archer-Daniels-Midland (ADM) has raised $1.75 billion in a sale of remarketed notes in two parts, Reuters reports. The agribusiness conglomerate appointed Bank of America Merrill Lynch, Citigroup and JP Morgan as the joint bookrunning managers for the sale.
The $750 million notes sold in the first tranche carry a coupon rate of 4.479% and are due to mature on March 1, 2021. The $1 billion notes sold in the second tranche carry a coupon rate of 5.765% and are scheduled to mature on March 1, 2041.
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