By Paul A. Harris
Portland, Ore., Nov. 28 - AGCO Corp. priced a split-rated $300 million issue of 10-year senior notes (Ba1/BBB-/) at par to yield 5 7/8% on Monday, according to market sources.
J.P. Morgan Securities LLC, Mitsubishi UFS, Rabobank and SunTrust Robinson Humphrey were the joint bookrunners for the quick-to-market issue, which was transacted on the investment-grade desk.
Proceeds will be used to partly fund the $940 million acquisition of GSI Holdings.
The maker of farm implements is based in Duluth, Ga.
| Issuer: | AGCO Corp.
|
| Amount: | $300 million
|
| Maturity: | 10 years
|
| Securities: | Senior notes
|
| Bookrunners: | J.P. Morgan Securities LLC, Mitsubishi UFS, Rabobank, SunTrust Robinson Humphrey
|
| Coupon: | 5 7/8%
|
| Price: | Par
|
| Yield: | 5 7/8%
|
| Trade date: | Nov. 28
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BBB-
|
| Distribution: | Rule 144A
|
| Marketing: | Quick to market
|
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