Monsanto Launches Its Largest Bond Offering To Fund $10 Billion Stock Buyback

Photo courtesy of St. Louis Business Journal
Photo courtesy of St. Louis Business Journal

Monsanto Co. sold $4.5 billion of notes in its biggest bond offering ever to help fund a share repurchase program. The company based in St. Louis plans to use the proceeds from the offering, as well as $1.2 billion in commercial paper and available cash, to fund the $6 billion accelerated portion of its share buyback program, and for other general corporate purposes, according to a regulatory filing.

Monsanto Co.’s net income fell 5.6 percent to $858 million for the third quarter ended May 31, as its operating expenses rose by 6 percent due to increased spending on research and development and its precision agriculture and biologicals platforms.

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