AGCO Corporation Announces Planned Private Placement of Notes

Apr 03, 2001, 01:00 ET from AGCO Corporation

    DULUTH, Ga., April 3 /PRNewswire/ -- AGCO Corporation (NYSE:   AG), a major
 worldwide designer, manufacturer and distributor of agricultural equipment,
 today announced that it is seeking to raise approximately $250 million through
 an institutional private placement of senior notes.  Completion of the
 offering is expected later this month, subject to market conditions.  The
 proceeds of the anticipated offer would be used to reduce AGCO's borrowings
 under its revolving credit facility.
     The notes have not been registered under the Securities Act of 1933 or any
 state securities laws and are being offered only to qualified institutional
 buyers in reliance on Rule 144A under the Securities Act.  Unless so
 registered, the notes may not be offered or sold except pursuant to an
 exemption from the registration requirements of the Securities Act and any
 applicable state securities laws.
     This press release contains forward-looking statements regarding our
 ability to complete this private placement and effectively use the proceeds.
 The forward-looking statements involve a number of risks and uncertainties.
 Among the important factors that could cause actual results to differ
 materially from those indicated in such forward-looking statements include
 uncertainties relating to (i) market conditions or corporate high-yield
 securities in general and our notes in particular; (ii) our substantial
 leverage and debt service requirements; (iii) the cyclicability of the market
 for agricultural equipment; and (iv) our ability to successfully integrate the
 operations of acquired businesses.  Additional relevant risk factors that
 could cause actual results to differ materially are discussed in the "Risk
 Factors" and "Forward-Looking Statements" sections of our registration
 statements and reports filed with  the  Securities and Exchange  Commission,
 which are available directly from us, from public reference facilities
 maintained by the Securities and Exchange Commission, or, to the extent filed
 via EDGAR, access to the website of the Securities and Exchange Commission
 (http:\\www.sec.gov).
 
     AGCO Corporation, headquartered in Duluth, Georgia, is a global designer,
 manufacturer and distributor of agricultural equipment and related replacement
 parts.  AGCO products are distributed in 140 countries.  AGCO offers a full
 product line including tractors, combines, hay tools, sprayers, forage
 equipment and implements through more than 8,200 independent dealers and
 distributors around the world.  AGCO products are distributed under the brand
 names AGCO(R)Allis, AGCOSTAR(R), Farmhand(R), FENDT(TM), Fieldstar(R),
 GLEANER(R), Glencoe(R), Hesston(R), Massey Ferguson(R), New Idea(R), Spra-
 Coupe(R), Tye(R), White Tractors, White Planters and Willmar(R).  AGCO
 provides retail financing through AGCO Finance in North America and through
 Agricredit in the United Kingdom, France, Germany, Ireland, Spain and Brazil.
 In 2000, AGCO had sales of $2.3 billion.
     Please visit the Company's website at www.agcocorp.com .
 
 

SOURCE AGCO Corporation
    DULUTH, Ga., April 3 /PRNewswire/ -- AGCO Corporation (NYSE:   AG), a major
 worldwide designer, manufacturer and distributor of agricultural equipment,
 today announced that it is seeking to raise approximately $250 million through
 an institutional private placement of senior notes.  Completion of the
 offering is expected later this month, subject to market conditions.  The
 proceeds of the anticipated offer would be used to reduce AGCO's borrowings
 under its revolving credit facility.
     The notes have not been registered under the Securities Act of 1933 or any
 state securities laws and are being offered only to qualified institutional
 buyers in reliance on Rule 144A under the Securities Act.  Unless so
 registered, the notes may not be offered or sold except pursuant to an
 exemption from the registration requirements of the Securities Act and any
 applicable state securities laws.
     This press release contains forward-looking statements regarding our
 ability to complete this private placement and effectively use the proceeds.
 The forward-looking statements involve a number of risks and uncertainties.
 Among the important factors that could cause actual results to differ
 materially from those indicated in such forward-looking statements include
 uncertainties relating to (i) market conditions or corporate high-yield
 securities in general and our notes in particular; (ii) our substantial
 leverage and debt service requirements; (iii) the cyclicability of the market
 for agricultural equipment; and (iv) our ability to successfully integrate the
 operations of acquired businesses.  Additional relevant risk factors that
 could cause actual results to differ materially are discussed in the "Risk
 Factors" and "Forward-Looking Statements" sections of our registration
 statements and reports filed with  the  Securities and Exchange  Commission,
 which are available directly from us, from public reference facilities
 maintained by the Securities and Exchange Commission, or, to the extent filed
 via EDGAR, access to the website of the Securities and Exchange Commission
 (http:\\www.sec.gov).
 
     AGCO Corporation, headquartered in Duluth, Georgia, is a global designer,
 manufacturer and distributor of agricultural equipment and related replacement
 parts.  AGCO products are distributed in 140 countries.  AGCO offers a full
 product line including tractors, combines, hay tools, sprayers, forage
 equipment and implements through more than 8,200 independent dealers and
 distributors around the world.  AGCO products are distributed under the brand
 names AGCO(R)Allis, AGCOSTAR(R), Farmhand(R), FENDT(TM), Fieldstar(R),
 GLEANER(R), Glencoe(R), Hesston(R), Massey Ferguson(R), New Idea(R), Spra-
 Coupe(R), Tye(R), White Tractors, White Planters and Willmar(R).  AGCO
 provides retail financing through AGCO Finance in North America and through
 Agricredit in the United Kingdom, France, Germany, Ireland, Spain and Brazil.
 In 2000, AGCO had sales of $2.3 billion.
     Please visit the Company's website at www.agcocorp.com .
 
 SOURCE  AGCO Corporation