Archer Daniels Midland Company (NYSE:ADM) today announced that
as of 5:00 p.m., New York City time, June 12, 2015, the
below-listed amounts of the following debentures (the “Debentures”)
have been validly tendered and not validly withdrawn in connection
with the cash tender offers, as reported by the depositary. These
Debentures, if accepted, will be eligible for the early tender
payment of $30.00 per $1,000.00 principal amount of Debentures.
Debentures tendered pursuant to the offers can no longer be
withdrawn. The terms and conditions of the tender offers are
described in detail in the Offer to Purchase dated June 1, 2015,
and the related Letter of Transmittal.
The previously announced early tender time for each series of
Debentures has been extended to 5:00 p.m., New York City time, on
June 30, 2015, which is the current expiration date for the offers.
Holders of Debentures that are validly tendered prior to the
expiration date will be eligible to receive the early tender
payment of $30.00 per $1,000.00 principal amount of Debentures. All
other terms of the offers, as previously announced, remain
unchanged except that all holders will be eligible to receive the
early tender payment regardless when their Debentures were
tendered.
Up to $1,000,000,000 Aggregate Purchase
Price of the Outstanding Debentures Listed Below
Title of Security(CUSIP
No.)
PrincipalAmountOutstanding
MaximumTender Amount
Accept-ancePriorityLevel
Early TenderPayment*
Principal AmountTendered
Percent of OutstandingPrincipal
AmountTendered to Date
6.950% Debenturesdue 2097(039483 AP7)
$172,103,000 N/A 1 $30.00
$13,559,000 7.88%
5.375% Debenturesdue 2035(039483 AU6)
$600,000,000 N/A 2 $30.00
$129,988,000 21.66%
5.765% Debenturesdue 2041(039483 BC5)
$595,796,000 N/A 3 $30.00
$216,769,000 36.38%
5.935% Debenturesdue 2032(039483 AT9)
$420,208,000 N/A 4 $30.00
$37,299,000 8.88%
6.625% Debenturesdue 2029(039483 AR3)
$182,213,000 N/A 5 $30.00
$22,280,000 12.23%
6.750% Debenturesdue 2027(039483 AN2)
$123,580,000 N/A 6 $30.00
$4,936,000 3.99%
7.500% Debenturesdue 2027(039483 AM4)
$186,668,000 N/A 7 $30.00
$35,224,000 18.87%
7.000% Debenturesdue 2031(039483 AS1)
$184,580,000 N/A 8 $30.00
$20,127,000 10.90%
6.450% Debenturesdue 2038(039483 AX0)
$153,683,000 N/A 9 $30.00
$26,882,000 17.49%
8.375% Debenturesdue 2017(039483 AH5)
$295,300,000 N/A 10 $30.00
$33,254,000 11.26%
4.479% Debenturesdue 2021(039483 BB7)
$750,000,000 $250,000,000(a) 11 $30.00
$312,797,000(b) 41.71%
*
Per $1,000 principal amount of Debentures
accepted for purchase
(a) Subject to a maximum tender amount of $250,000,000
aggregate principal amount as described in the Offer to Purchase
(b) The principal amount tendered exceeds the maximum tender amount
of $250,000,000 aggregate principal amount as described in the
Offer to Purchase
The tender offers will expire at 5:00 p.m., New York City time,
on June 30, 2015, unless extended.
The company will only purchase up to $1,000,000,000 aggregate
purchase price of the Debentures in the tender offers, and the
amount of each series of Debentures that will be purchased will be
determined in accordance with the Acceptance Priority Levels set
forth above and may be prorated as described in the Offer to
Purchase. In addition, the aggregate principal amount of the 4.479%
Debentures due 2021 (the “2021 Notes”) that may be purchased is
subject to a maximum tender amount of $250,000,000 as described in
the Offer to Purchase. Because the principal amount of the 2021
Notes tendered already exceeds such maximum tender amount, any 2021
Notes that are purchased after applying the aggregate purchase
price limitation and the Acceptance Priority Levels will be
prorated.
The settlement date is expected to be one business day following
the expiration of the tender offers. Payments for Debentures
purchased will include accrued interest up to, but not including,
the settlement date.
The consummation of the tender offers is conditioned upon the
satisfaction or waiver of the conditions, including the financing
condition, set forth in the Offer to Purchase. Any tendered
Debentures not accepted will be promptly returned to the tendering
parties.
ADM has retained Barclays Capital Inc., BofA Merrill Lynch,
Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, as
lead dealer managers, and D.F. King & Co., Inc. as the tender
and information agent for the tender offers.
For additional information regarding the terms of the tender
offers, please contact: Barclays Capital Inc. at (800) 438-3242
(toll-free) or (212) 528-7581 (collect); BofA Merrill Lynch at
(888) 292-0070 (toll-free) or (980) 387-3907 (collect); Citigroup
Global Markets Inc. at (800) 558-3745 (toll-free) or (212) 723-6106
(collect); or J.P. Morgan Securities LLC at (800) 834-4666
(toll-free) or (212) 834-4811 (collect). Requests for documents and
questions regarding the tendering of Debentures may be directed to
D.F. King & Co., Inc. at (866) 342-8290 (toll free) or (212)
269-5550 (collect) or at adm@dfking.com.
ADM’s obligations to accept any Debentures tendered and to pay
the applicable consideration for them are set forth solely in the
Offer to Purchase and related Letter of Transmittal. This press
release is not an offer to purchase or a solicitation of acceptance
of the tender offers. Subject to applicable law, ADM may amend,
extend or, subject to certain conditions, terminate the tender
offers.
About ADM
For more than a century, the people of Archer Daniels Midland
Company (NYSE: ADM) have transformed crops into products that serve
the vital needs of a growing world. Today, we’re one of the world’s
largest agricultural processors and food ingredient providers, with
more than 33,000 employees serving customers in more than 140
countries. With a global value chain that includes more than 460
crop procurement locations, 300 ingredient manufacturing
facilities, 40 innovation centers and the world’s premier crop
transportation network, we connect the harvest to the home, making
products for food, animal feed, chemical and energy uses.
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version on businesswire.com: http://www.businesswire.com/news/home/20150615005673/en/
Archer Daniels Midland CompanyMedia
RelationsJackie Anderson, 312-634-8484media@adm.com
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