AGCO Announces Public Offering of Senior Subordinated Notes
DULUTH, Ga., March 29 /PRNewswire-FirstCall/ -- AGCO Corporation , a worldwide
designer, manufacturer and distributor of agricultural equipment, today
announced that it intends to commence an offering for its account of euro 200
million senior subordinated notes in a fully underwritten public offering. AGCO
expects to use the proceeds to redeem the $250 million principal amount of its 8
1/2% senior subordinated notes due 2006. The prospectus supplement for the
offering is expected to be filed with the Securities and Exchange Commission
during the week of April 5, 2004, and the offering is expected to launch shortly
thereafter.
Morgan Stanley & Co. International Limited and Bear, Stearns International
Limited will act as joint-bookrunners and lead underwriters for the proposed
offering.
This news release does not constitute an offer to sell or a solicitation of an
offer to buy any securities. Any such offer will be made only by means of the
prospectus supplement and related prospectus. Potential investors should read
those documents carefully before making any investment decision. Copies of the
preliminary prospectus supplement and related prospectus when available may be
obtained by contacting Morgan Stanley & Co. Incorporated, Prospectus Department,
1585 Broadway, New York, New York 10036.
AGCO's expectations with respect to the offering constitute forward looking
statements. Actual results may differ materially from thosesuggested in the
forward looking statements for a number of reasons, including market receptivity
to the offering, general economic conditions and other changes that impact
AGCO's business or the farm equipment industry in general.
AGCO Corporation, headquartered in Duluth, Georgia, is a global designer,
manufacturer and distributor of agricultural equipment and related replacement
parts. AGCO products are distributed in over 140 countries. AGCO offers a full
product line including tractors, combines, hay tools, sprayers, forage, tillage
equipment and implements through more than 9,200 independent dealers and
distributors around the world. AGCO products are distributed under the brand
names AGCO(R), Agco Allis(R), AgcoStar(R), Challenger(R), Farmhand(R), Fendt(R),
Fieldstar(R), Gleaner(R), Glencoe(R), Hesston(R), LOR*AL(R), Massey Ferguson(R),
New Idea(R), RoGator(R), SisuDiesel(TM), Soilteq(TM), Spra- Coupe(R),
Sunflower(R), TerraGator(R), Tye(R), Valtra(R), White(TM), and Willmar(R). AGCO
provides retail financing through AGCO Finance in North America and through
Agricredit in the United Kingdom, France, Germany, Ireland, and Brazil. DATASOURCE: AGCO Corporation CONTACT: Molly Dye, Vice President, Corporate Relations, +1-770-813-6044, or Andy Beck, Senior Vice President and Chief Financial Officer, +1-770-813-6083, both of AGCO Corporation Web site: http://www.agcocorp.com/
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