Corn Products International Announces Pricing of Senior Note Offerings
April 04 2007 - 10:02PM
PR Newswire (US)
WESTCHESTER, Ill., April 4 /PRNewswire-FirstCall/ -- Corn Products
International, Inc. (NYSE:CPO), a leading global provider of
agriculturally derived ingredients to diversified industries, today
announced the pricing of a public offering of $200 million
aggregate principal amount of 6% senior unsecured notes due April
15, 2017 and a public offering of $100 million aggregate principal
amount of 6.625% senior unsecured notes due April 15, 2037. The
offerings were made pursuant to a registration statement filed with
the US Securities and Exchange Commission. The transactions are
expected to close on April 10, 2007. Corn Products International
plans to use the net proceeds to pay at maturity its $255 million
outstanding principal amount of 8.25% senior notes due July 15,
2007, as well as for general corporate purposes. Citigroup Global
Markets Inc. and Morgan Stanley & Co. Incorporated will serve
as joint book-running managers for the offerings. These offerings
of senior unsecured notes may be made only by means of a prospectus
supplement and an accompanying prospectus. Copies of the prospectus
supplement and the accompanying prospectus relating to these
offerings can be obtained from Citigroup Global Markets Inc. toll
free at 1-877-858-5407 or Morgan Stanley & Co. Incorporated
toll free at 1-866-718-1649. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy,
nor shall there be any sale of, these senior unsecured notes in any
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. Corn Products
International, headquartered in Westchester, Ill., is one of the
world's largest corn refiners and a major supplier of high-quality
food ingredients and industrial products derived from the wet
milling and processing of corn and other starch-based materials. In
2006, Corn Products International reported consolidated net sales
of $2.62 billion. Forward-Looking Statement This news release
contains or may contain forward-looking statements within the
meaning of Section 27A of the Securities Exchange Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. The Company
intends these forward looking statements to be covered by the safe
harbor provisions for such statements. These statements can
sometimes be identified by the use of forward looking words such as
"may," "will," "should," "anticipate," "believe," "plan,"
"project," "estimate," "expect," "intend," "continue," "pro forma,"
"forecast" or other similar expressions or the negative thereof.
All statements other than statements of historical facts in this
release or referred to in this release are "forward-looking
statements." These statements are subject to certain inherent risks
and uncertainties including market conditions and other factors
beyond our control. Actual results and developments may differ
materially from the expectations conveyed in these statements,
based on various factors. Our forward-looking statements speak only
as of the date on which they are made and we do not undertake any
obligation to update any forward-looking statement to reflect
events or circumstances after the date of the statement. If we do
update or correct one or more of these statements, investors and
others should not conclude that we will make additional updates or
corrections. For a further description of these risks, see Risk
Factors included in our Annual Report on Form 10-K for the year
ended December 31, 2006 and subsequent reports on Forms 10-Q or
8-K. DATASOURCE: Corn Products International, Inc. CONTACT:
Investor: Dave Prichard, +1-708-551-2592, or Media: Mark Lindley,
+1-708-551-2602, both for Corn Products International, Inc. Web
site: http://www.cornproducts.com/
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