Summary
Archer-Daniels-Midland Co. (ADM) filed an 8-K on November 30, 2010, primarily to announce the execution of a Second Supplemental Indenture dated November 29, 2010. This supplemental indenture amends and supplements the existing Indenture governing ADM's issuance of 35,000,000 equity units. These equity units, initially made available in May 2008, are comprised of a purchase contract obligating holders to buy ADM common stock by June 1, 2011, and a beneficial interest in 4.70% debentures due 2041.
Key Highlights
- 1ADM filed an 8-K to publicly disclose the Second Supplemental Indenture dated November 29, 2010.
- 2The Second Supplemental Indenture modifies the terms of ADM's previously issued equity units.
- 3The equity units were originally issued in May 2008.
- 4Each equity unit consists of a purchase contract for ADM common stock and a portion of 4.70% debentures due 2041.
- 5The purchase contracts obligate holders to buy ADM common stock for $50 cash by June 1, 2011.
- 6The filing makes the Second Supplemental Indenture publicly available as an exhibit.
Frequently Asked Questions
The primary purpose of this 8-K filing is to make the Second Supplemental Indenture, dated November 29, 2010, publicly available as an exhibit. This document relates to the terms of ADM's outstanding equity units.
Each equity unit consists of two parts: (i) a purchase contract that requires the holder to purchase a certain number of ADM common stock shares for $50 cash by June 1, 2011, and (ii) a 5.0% undivided beneficial interest in $1,000 aggregate principal amount of 4.70% debentures due 2041.
The purchase contract within the equity units obligates the holder to purchase shares of ADM common stock no later than June 1, 2011.
The Bank of New York Mellon is acting as the Trustee for the debentures issued as part of the equity units. The Second Supplemental Indenture was executed between ADM and The Bank of New York Mellon in its capacity as Trustee.