Summary
Deere & Company (DE) announced a significant debt offering, successfully raising $2 billion by issuing two series of unsecured senior notes. The company sold $1.25 billion of 5.450% Notes due in 2035 and $750 million of 5.700% Notes due in 2055. This move is primarily aimed at strengthening its capital structure and providing flexibility for future operations and investments. The offering was conducted through a terms agreement with a syndicate of prominent underwriters, indicating strong market appetite for Deere's debt.
Key Highlights
- 1Deere & Company issued $2 billion in aggregate principal amount of senior notes.
- 2The offering consisted of $1.25 billion of 5.450% Notes due January 16, 2035.
- 3The offering also included $750 million of 5.700% Notes due January 19, 2055.
- 4The Notes are unsecured and have the same rank as other unsecured and unsubordinated debt of the company.
- 5The offering was made pursuant to a Terms Agreement with a group of underwriters represented by Barclays Capital Inc., BofA Securities, Inc., and others.
- 6Proceeds from the notes will be used to strengthen the company's capital structure.