Monsanto Company Announces $300 Million Debt Issue
According to PRNewswire, Monsanto Company announced a 5-year, $300 million public debt offering. Notes will be issued at 99.787 percent and bear interest at 2.75 percent, resulting in a yield of 2.796 percent. The notes mature on April 15, 2016, with a first interest payment date of Oct. 15, 2011. The proceeds from the debt offering will be used for general corporate purposes, including repaying a note due to Pfizer Inc. related to Monsanto''s acquisition of the Chesterfield Village research facility last year. Monsanto''s shelf registration was filed and became effective on October 31, 2008.