AGCO Announces Redemption of €200 Million 6.875% Euro Notes
01 Aprile 2011 - 5:51PM
Business Wire
AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide
manufacturer and distributor of agricultural equipment, announced
today that it has given a full redemption notice for May 2, 2011,
with respect to its 6.875% Senior Subordinated Notes due 2014. The
Company will fund the redemption with a new 5 year €200 million
senior unsecured term loan with Co�peratieve Centrale
Raiffeisen-Boerenleenbank B.A., “Rabobank Nederland”.
The Company will pay a redemption premium of 1.146% that will
negatively impact second quarter results, but the full year impact
of the refinancing is expected to be earnings neutral.
Forward-looking
statements:
Statements made in this press release, including those related
to AGCO’s plans to redeem the existing notes and the expected
financial impacts from refinancing the notes, are forward-looking
statements. These statements involve risks and uncertainties that
may cause actual results to differ materially from those set forth
in these statements. Among other things market interest in the
notes may be greater or less than expected. These factors are not
intended to be an all-encompassing list of risks and uncertainties
that may affect AGCO’s business. Additional information regarding
these and other factors can be found in AGCO’s reports filed with
the Securities and Exchange Commission, including its Annual Report
on Form 10-K for the year ended December 31, 2010. AGCO disclaims
any obligation to update any forward-looking statements.
ABOUT AGCO
AGCO, Your Agriculture Company, (NYSE: AGCO) was founded in 1990
and offers a full product line of tractors, combines, hay tools,
sprayers, forage, tillage equipment, implements, and related
replacement parts. AGCO agricultural products are sold under the
core brands of Challenger®, Fendt®, Massey Ferguson® and Valtra®,
and are distributed globally through 2,600 independent dealers and
distributors, in more than 140 countries worldwide. AGCO provides
retail financing through AGCO Finance. AGCO is headquartered in
Duluth, Georgia, USA. In 2010, AGCO had net sales of $6.9
billion.
www.AGCOcorp.com.
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