CHICAGO--(BUSINESS WIRE)--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tendered and not validly withdrawn in connection with the cash tender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offers can no longer be withdrawn.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.
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Up to $1,000,000,000 Aggregate Purchase Price of the
Outstanding Debentures Listed Below
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Title of Security
(CUSIP No.)
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Principal
Amount
Outstanding
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Maximum
Tender Amount
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Accept-
ance
Priority
Level
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Early Tender
Payment*
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Principal Amount
Tendered
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Percent of Outstanding
Principal Amount
Tendered
to Date
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6.950% Debentures
due 2097
(039483 AP7)
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$172,103,000
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N/A
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1
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$30.00
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$13,559,000
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7.88%
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5.375% Debentures
due 2035
(039483 AU6)
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$600,000,000
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N/A
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2
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$30.00
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$129,988,000
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21.66%
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5.765% Debentures
due 2041
(039483 BC5)
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$595,796,000
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N/A
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3
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$30.00
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$216,769,000
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36.38%
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5.935% Debentures
due 2032
(039483 AT9)
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$420,208,000
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N/A
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4
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$30.00
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$37,299,000
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8.88%
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6.625% Debentures
due 2029
(039483 AR3)
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$182,213,000
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N/A
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5
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$30.00
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$22,280,000
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12.23%
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6.750% Debentures
due 2027
(039483 AN2)
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$123,580,000
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N/A
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6
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$30.00
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$4,936,000
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3.99%
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7.500% Debentures
due 2027
(039483 AM4)
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$186,668,000
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N/A
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7
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$30.00
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$35,224,000
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18.87%
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7.000% Debentures
due 2031
(039483 AS1)
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$184,580,000
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N/A
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8
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$30.00
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$20,127,000
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10.90%
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6.450% Debentures
due 2038
(039483 AX0)
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$153,683,000
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N/A
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9
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$30.00
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$26,882,000
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17.49%
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8.375% Debentures
due 2017
(039483 AH5)
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$295,300,000
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N/A
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10
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$30.00
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$33,254,000
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11.26%
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4.479% Debentures
due 2021
(039483 BB7)
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$750,000,000
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$250,000,000(a)
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11
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$30.00
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$312,797,000(b)
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41.71%
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*
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Per $1,000 principal amount of Debentures accepted for purchase
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(a)
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Subject to a maximum tender amount of $250,000,000 aggregate
principal amount as described in the Offer to Purchase
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(b)
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The principal amount tendered exceeds the maximum tender amount of
$250,000,000 aggregate principal amount as described in the Offer to
Purchase
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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.
Archer Daniels Midland Company
Media Relations
Jackie Anderson, 312-634-8484
media@adm.com