Monsanto Company (NYSE: MON) today announced a $500 million public debt offering, with $250 million in 10-year bonds and $250 million in 30-year bonds.
The 10-year notes will be issued at 99.884 percent and bear interest at 2.20 percent, resulting in a yield of 2.21 percent. These notes mature on July 15, 2022 with a first interest payment date of January 15, 2013.
The 30-year notes will be issued at 99.854 percent and bear interest at 3.60 percent, resulting in a yield of 3.61 percent. These notes mature on July 15, 2042 with a first interest payment date of January 15, 2013.
The proceeds from the debt offering will be used for general corporate purposes and to refinance an existing $486 million of maturing debt due August 15, 2012.
Monsanto's shelf registration was filed and became effective in November, 2011.
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