Archer Daniels Midland Company (NYSE: ADM) today announced that, as of
5:00 p.m., New York City time, June 7, 2007, the early tender time, the
following amount of debentures (the “Debentures”) have been validly
tendered and not validly withdrawn in connection with its previously
announced cash tender offers for up to $400 million amount of its
outstanding Debentures. These Debentures, if accepted, will be eligible
for the early tender payment of $20.00 per $1,000.00 principal amount of
Debentures. The terms and conditions of the tender offers are described
in detail in the Offer to Purchase dated May 30, 2007 and the related
Letter of Transmittal.
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Title of Security Cusip No.
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Acceptance Priority Level
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Principal Amount Tendered
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Percent of Outstanding Principal Amount Tendered to Date
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8.875% Debentures due April 2011
(CUSIP No. 039483AG7)
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1
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$196,054,000
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65.79%
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8.125% Debentures due June 2012
(CUSIP No. 039483AJ1)
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2
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$196,855,000
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65.62%
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7.125% Debentures due March 2013
(CUSIP No. 039483AK8)
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3
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$103,539,000
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41.42%
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Since the aggregate principal amount of Debentures validly tendered and
not validly withdrawn prior to the expiration of the tender offers
exceeds the $400 million tender cap, only $400,000,000 aggregate
principal amount of the Debentures tendered will be accepted for
purchase. All Debentures due 2011 will be accepted before any other
Debentures are accepted. Once all the Debentures due 2011 have been
accepted, Debentures due 2012 will be accepted, subject to the tender
cap and proration of that series as described in the Offer to Purchase.
Once all the Debentures due 2012 have been accepted, Debentures due 2013
will be accepted, subject to the tender cap and proration of that series
as described in the Offer to Purchase. Any tendered Debentures not
accepted will be promptly returned to the tendering parties.
For additional information regarding the terms of the tender offers,
please contact: Barclays Capital, Inc. at (866) 307-8991 (toll free) or
(212) 412-4072 (collect), Deutsche Bank Securities Inc. at (866)
627-0391 (toll free) or (212) 250-2955 (collect), and Goldman, Sachs &
Co. at (877) 686-5059 (toll free) or (212) 902-5334 (collect). Requests
for documents and questions regarding the tendering of Debentures may be
directed to Global Bondholder Services Corporation at (866) 952-2200
(toll free) or (212) 430-3774 (collect).
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 the 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.
Archer Daniels Midland Company (ADM) is the world leader in BioEnergy
and has a premier position in the agricultural processing value chain.
ADM is one of the world’s largest processors of soybeans, corn, wheat
and cocoa. ADM is a leading manufacturer of biodiesel, ethanol, soybean
oil and meal, corn sweeteners, flour and other value-added food and feed
ingredients. Headquartered in Decatur, Illinois, ADM has over 26,000
employees, more than 240 processing plants and net sales for the fiscal
year ended June 30, 2006 of $37 billion. Additional information can be
found on ADM’s Web site at http://www.admworld.com/
ADM Media Relations
217/424-5413