AGCO Corporation Completes Bank Debt Refinancing

Apr 17, 2001, 01:00 ET from AGCO Corporation

    DULUTH, Ga., April 17 /PRNewswire/ -- AGCO Corporation (NYSE:   AG), a major
 worldwide designer, manufacturer and distributor of agricultural equipment,
 today announced that it has completed the refinancing of its existing
 revolving credit facility through three separate transactions.  AGCO completed
 the issuance of $250 million of 9.5% unsecured senior notes due 2008 through
 an institutional private placement.  In addition, the Company completed a new
 $350 million secured multi-currency revolving credit facility maturing in
 2005, which was underwritten by a bank group led by Rabobank International.
 Lastly, AGCO entered into a new $100 million securitization facility with
 Rabobank whereby certain European accounts receivable are sold on a revolving
 basis.  The proceeds from these transactions were used to reduce and replace
 the Company's existing bank facility.
     The senior 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.
     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 our website at www.agcocorp.com .
 
 

SOURCE AGCO Corporation
    DULUTH, Ga., April 17 /PRNewswire/ -- AGCO Corporation (NYSE:   AG), a major
 worldwide designer, manufacturer and distributor of agricultural equipment,
 today announced that it has completed the refinancing of its existing
 revolving credit facility through three separate transactions.  AGCO completed
 the issuance of $250 million of 9.5% unsecured senior notes due 2008 through
 an institutional private placement.  In addition, the Company completed a new
 $350 million secured multi-currency revolving credit facility maturing in
 2005, which was underwritten by a bank group led by Rabobank International.
 Lastly, AGCO entered into a new $100 million securitization facility with
 Rabobank whereby certain European accounts receivable are sold on a revolving
 basis.  The proceeds from these transactions were used to reduce and replace
 the Company's existing bank facility.
     The senior 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.
     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 our website at www.agcocorp.com .
 
 SOURCE  AGCO Corporation