Adecoagro Plans Senior Notes Offering to Fund Tender Offer and General Corporate Initiatives

Adecoagro plans to offer senior notes in a private placement to qualified institutional buyers, with the proceeds to fund a cash tender offer to repurchase outstanding 6.000% notes due 2027 and support general corporate initiatives. The company is currently trading 1.26% higher at $9.67 on the New York Stock Exchange.

Adecoagro S.A. (NYSE: AGRO) has announced a cash tender offer for its outstanding 6.000% Notes due 2027, with a scheduled expiration date of July 24, 2025. The company intends to fund this repurchase through the issuance of senior notes in a private placement to qualified institutional buyers [1].

The tender offer, which is subject to certain conditions, includes a consideration of $1,000.00 per $1,000.00 principal amount of the Notes, along with accrued interest. Holders of the Notes must tender their securities by the expiration date to receive the consideration. Adecoagro has engaged several dealer managers, including Itau BBA USA Securities, Inc., J.P. Morgan Securities LLC, Balanz Capital UK LLP, Banco BTG Pactual S.A. – Cayman Branch, and Morgan Stanley & Co. LLC, to facilitate the tender offer [1].

The company plans to use the proceeds from the senior note issuance to redeem the Notes validly tendered and accepted for purchase, as well as to support general corporate initiatives. Adecoagro is currently trading at $9.67 on the New York Stock Exchange, up 1.26% from its previous close [1].

References:
[1] https://www.prnewswire.com/news-releases/adecoagro-sa-announces-tender-offer-for-any-and-all-of-its-2027-notes-302508695.html