Deere & Company Agrees to Sell $2 Billion in Notes in Recent Agreement

Deere & Company, a leader in agricultural and construction equipment, recently announced that it has finalized an agreement to sell $1.25 billion in 5.450% Notes due January 16, 2035, and $750 million in 5.700% Notes due January 19, 2055. The issuance and sale of these Notes were made in coordination with a Terms Agreement entered into by the company on January 13, 2025, with several underwriters, including Barclays Capital Inc., BofA Securities, Inc., and J.P. Morgan Securities LLC.

The 2035 Notes will accrue interest semi-annually starting from July 16, 2025, while the 2055 Notes will pay interest biannually starting from July 19, 2025, with the Notes holding an unsecured status and the same rank as the company’s other unsecured and unsubordinated debt.

These Notes were issued under an Indenture dating back to September 25, 2008, with The Bank of New York Mellon, allowing Deere & Company the option to redeem them in part or in full upon providing 15 to 45 days’ notice before maturity, as outlined in the Final Prospectus Supplement filed with the SEC on January 15, 2025.

Registered under the Securities Act of 1933, these Notes fall under the company’s Registration Statement on Form S-3, filed on June 30, 2023. Deere & Company has submitted various prospectus supplements in connection with this offering, including a Preliminary Prospectus Supplement dated January 13, 2025, and a Final Prospectus Supplement.

Exhibits filed with the Form 8-K include the Terms Agreement, along with the forms of the 2035 and 2055 Notes, as well as an opinion from Kirkland & Ellis LLP, serving as the company’s legal counsel.

In adherence to regulatory standards, the company has detailed these recent financial events in the Form 8-K filed with the Securities and Exchange Commission, providing transparency to stakeholders and potential investors.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Deere & Company’s 8K filing here.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.