Monsanto to Issue $300 Million in Debt

Monsanto is issuing $300 million in new debt due in 2016, the company announced today. The debt will carry an interest rate of 2.75%. It is rated 'A2' by Moody's Investors Service, in line with Monsanto's overall credit ratings. Proceeds from the debt sale will go towards repaying Pfizer for part of the money used to fund Monsanto's acquisition of the Chesterfield Village, MO reserach plant, in addition to general corporate purposes. Monsanto purchased the 1.3 million square-foot research center from Pfizer in November of...

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