By Cristal Cody
Tupelo, Miss., April 17 – Cargill Inc. sold $500 million of 3.05% three-year senior notes (A2/A/A) on Tuesday at a spread of Treasuries plus 57 basis points, a market source said.
The notes were talked to price in the Treasuries plus 55 bps to 60 bps area.
Barclays, Citigroup Global Markets Inc. and HSBC Securities (USA) Inc. were the bookrunners.
Proceeds will be used for general corporate purposes.
Cargill is a Minneapolis, Minn.-based food and agriculture company.
| Issuer: | Cargill Inc.
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| Amount: | $500 million
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| Description: | Senior notes
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| Maturity: | April 19, 2021
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| Bookrunners: | Barclays, Citigroup Global Markets Inc. and HSBC Securities (USA) Inc.
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| Coupon: | 3.05%
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| Spread: | Treasuries plus 57 bps
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| Trade date: | April 17
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| Ratings: | Moody’s: A2
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| S&P: A
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| Fitch: A
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| Price talk: | Treasuries plus 55 bps to 60 bps area
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