St. Louis, Missouri
July 12, 2005
Monsanto Company (NYSE:
MON) announced the offering of $400 million of 30-year notes
today. Of these notes, $250 million will be issued as senior
unsecured notes of Monsanto, and the other $150 million will be
issued through a newly-formed Canadian finance subsidiary and
guaranteed by Monsanto. The notes will bear interest at 5.5
percent annually, payable semi-annually commencing on Jan. 30,
2006, and will mature on July 30, 2035. The notes issued by
Monsanto are being offered to the public at 99.154 percent of
the principal amount, resulting in a yield of 5.558 percent. The
notes issued by the Canadian finance subsidiary are being
offered to the public at 97.024 percent of the principal amount,
resulting in a yield of 5.708 percent.
"This financing will allow us
to pay down commercial paper borrowings and take advantage of
current long-term interest rates, which we consider to be very
attractive," said Monsanto Company Chief Financial Officer Terry
Crews.
Monsanto Company is a
leading provider of technology-based solutions and agricultural
products that improve farm productivity and food quality.
This news release does not
constitute an offer to sell or a solicitation of an offer to buy
any notes or any other securities, nor will there be any sale of
the notes or any other security in any jurisdiction in which
such an offer or sale would be unlawful. |