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DEERE & CO 8-K Report, Corporate Update (Jan 16, 2025)

Reports
Other Events·Exhibits & Filings
Filing Date
Filed January 16, 2025
Period End
January 13, 2025
Security
DE
In the record · 2016–202610-K1110-Q348-K164

DE filed 11 annual reports (10-K), 34 quarterly reports (10-Q) and 164 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jun ’17Jun ’17
  2. Leadership change8-K · Sep ’22Sep ’22
  3. Leadership change8-K · Jun ’26Jun ’26

01—Abstract

Summary

Summary of the 8-K filed January 16, 2025. Cited figures are marked; the original filing is the authoritative source.

Deere & Company (DE) announced a significant debt offering, successfully raising $2 billiona by issuing two series of unsecured senior notes.

The company sold $1.25 billionb 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.

02—Key points

Key Highlights

  1. Deere & Company issued $2 billion in aggregate principal amount of senior notes.
  2. The offering consisted of $1.25 billion of 5.450% Notes due January 16, 2035.
  3. The offering also included $750 million of 5.700% Notes due January 19, 2055.
  4. The Notes are unsecured and have the same rank as other unsecured and unsubordinated debt of the company.
  5. The offering was made pursuant to a Terms Agreement with a group of underwriters represented by Barclays Capital Inc., BofA Securities, Inc., and others.
  6. Proceeds from the notes will be used to strengthen the company's capital structure.

03—Questions

Frequently Asked Questions

  1. What is the total amount of debt Deere & Company raised?

    Deere & Company raised a total of $2 billion in aggregate principal amount through the issuance of two series of notes.

  2. What are the terms of the new notes issued?

    The company issued $1.25 billion of 5.450% Notes due in 2035 and $750 million of 5.700% Notes due in 2055. Both are unsecured senior notes.

  3. What is the purpose of issuing these new notes?

    The primary stated purpose of issuing these notes is to strengthen Deere & Company's capital structure, providing financial flexibility for its ongoing operations and strategic initiatives.

  4. Are these notes secured by any company assets?

    No, the Notes are unsecured and have the same rank as the Company’s other unsecured and unsubordinated debt.

04—Continue

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