Corn Products prices debt offering at $300 million

by Eric Schroeder
Share This:

WESTCHESTER, ILL. — Corn Products International, Inc. on Wednesday detailed the pricing of a public offering of $200 million aggregate principal amount of 6% senior unsecured notes due April 15, 2017, and a public offering of $100 million aggregate principal amount of 6.625% senior unsecured notes due April 15, 2037.

The transactions are expected to close on April 10.

Corn Products said it intends to use the net proceeds to pay its $255 million outstanding principal amount of 8.25% senior notes due July 15, 2007, as well as for general corporate purposes.

Following the announcement, Fitch Ratings assigned a "BBB" rating to Corn Products’ $200 million notes offering. Fitch said the ratings were supported "by the company’s competitive market position, geographic diversification and comprehensive product mix within the wet corn milling industry."

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.








The views expressed in the comments section of Food Business News do not reflect those of Food Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.