UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 1, 2015
ARCHER-DANIELS-MIDLAND COMPANY
(Exact name of registrant as specified in its charter)
Delaware | 1-44 | 41-0129150 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
77 West Wacker Drive, Suite 4600 Chicago, Illinois |
60601 | |||
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (312) 634-8100
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 | Other Events. |
On July 1, 2015, Archer-Daniels-Midland Company issued a press release announcing the results for its offers to purchase up to $1,000,000,000 maximum payment amount of certain outstanding debentures. A copy of the press release is filed with this Current Report as Exhibit 99.1.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
99.1 | Press Release of Archer-Daniels-Midland Company dated July 1, 2015. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ARCHER-DANIELS-MIDLAND COMPANY | ||||||
Date: July 1, 2015 | By | /s/ D. Cameron Findlay | ||||
D. Cameron Findlay Senior Vice President, General Counsel, and Secretary |
EXHIBIT INDEX
Exhibit |
Description |
Method of Filing | ||
99.1 | Press Release of Archer-Daniels-Midland Company dated July 1, 2015. | Filed Electronically |
Exhibit 99.1
Archer Daniels Midland Company Announces Results of Offers to Purchase Certain Outstanding Debentures
CHICAGO, July 1, 2015Archer Daniels Midland Company (NYSE: ADM) today announced the final results of its previously announced cash tender offers for up to $1,000,000,000 aggregate purchase price of its outstanding debentures (the Debentures), which expired at 5:00 p.m., New York City time, on June 30, 2015. ADM has also determined that the financing condition described in the Offer to Purchase dated June 1, 2015 has been satisfied.
ADM has accepted for purchase $794,348,000 aggregate principal amount of Debentures validly tendered and not withdrawn. The tender offers were previously amended to extend the early tender time to 5:00 p.m., New York City time, on June 30, 2015. Pursuant to the terms of the tender offers, as amended, ADM will pay aggregate Total Consideration of $961,416,860.46 for the Debentures accepted for purchase.
As further described in the Offer to Purchase, ADM accepted the Debentures for purchase in accordance with the Acceptance Priority Levels set forth in the table below and up to the aggregate purchase price of $1,000,000,000. ADM accepted for purchase 100% of the Debentures listed in the table below at Acceptance Priority Levels 1-10. Because 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, ADM accepted for purchase on a pro rata basis approximately 77.4% of the 2021 Notes tendered.
ADM expects to make payment for the Debentures accepted for purchase in same-day funds today. Holders of Debentures accepted for purchase will be paid accrued interest to but excluding today. The Debentures not accepted for purchase will be promptly credited to the account of the registered holder of such Debentures with The Depository Trust Company or otherwise returned in accordance with the Offer to Purchase.
Up to $1,000,000,000 Aggregate Purchase Price of the Outstanding Debentures Listed Below
Title of Security (CUSIP No.) |
Maximum Tender Amount |
Acceptance Priority Level |
Principal Amount Outstanding |
Principal Amount Tendered |
Principal Amount Accepted |
Total Consideration* |
||||||||||||||
6.950% Debentures due 2097 |
N/A | 1 | $ | 172,103,000 | $ | 13,584,000 | $ | 13,584,000 | $ | 1,438.63 | ||||||||||
5.375% Debentures due 2035 |
N/A | 2 | $ | 600,000,000 | $ | 130,008,000 | $ | 130,008,000 | $ | 1,181.42 | ||||||||||
5.765% Debentures due 2041 |
N/A | 3 | $ | 595,796,000 | $ | 217,428,000 | $ | 217,428,000 | $ | 1,262.55 | ||||||||||
5.935% Debentures due 2032 |
N/A | 4 | $ | 420,208,000 | $ | 37,553,000 | $ | 37,553,000 | $ | 1,246.38 | ||||||||||
6.625% Debentures due 2029 |
N/A | 5 | $ | 182,213,000 | $ | 22,390,000 | $ | 22,390,000 | $ | 1,288.40 | ||||||||||
6.750% Debentures due 2027 |
N/A | 6 | $ | 123,580,000 | $ | 5,131,000 | $ | 5,131,000 | $ | 1,289.85 | ||||||||||
7.500% Debentures due 2027 |
N/A | 7 | $ | 186,668,000 | $ | 36,406,000 | $ | 36,406,000 | $ | 1,346.23 | ||||||||||
7.000% Debentures due 2031 |
N/A | 8 | $ | 184,580,000 | $ | 20,168,000 | $ | 20,168,000 | $ | 1,338.26 | ||||||||||
6.450% Debentures due 2038 |
N/A | 9 | $ | 153,683,000 | $ | 26,964,000 | $ | 26,964,000 | $ | 1,334.42 | ||||||||||
8.375% Debentures due 2017 |
N/A | 10 | $ | 295,300,000 | $ | 34,719,000 | $ | 34,719,000 | $ | 1,131.43 | ||||||||||
4.479% Debentures due 2021 |
$250,000,000(a) | 11 | $ | 750,000,000 | $ | 322,843,000 | (b) | $ | 249,997,000 | $ | 1,120.94 |
* | Per $1,000 principal amount of Debentures accepted for purchase |
(a) | Subject to a maximum tender amount of $250,000,000 aggregate principal amount as described in the Offer to Purchase |
(b) | The principal amount tendered exceeded the maximum tender amount of $250,000,000 aggregate principal amount as described in the Offer to Purchase |
Barclays Capital Inc., BofA Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, served as lead dealer managers, and D.F. King & Co., Inc. served as the tender and information agent for the tender offers. For additional information regarding 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); J.P. Morgan Securities LLC at (800) 834-4666 (toll-free) or (212) 834-4811 (collect); or D.F. King & Co., Inc. at (866) 342-8290 (toll free) or (212) 269-5550 (collect).
This press release is not an offer to purchase or a solicitation of acceptance of 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, were one of the worlds 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 worlds 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
media@adm.com
312-634-8484
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