Monsanto Co. announced a $365 million debt offering that will be used to support corporate operations such as capital expenditures and share repurchases. The senior notes, which will carry an interest rate of 4.3% and will mature in 2045, are expected to be sold to institutional investors in Taiwan, and the company plans to apply to list the notes on the Gre Tai Securities Market. The company had previously announced its goal of doubling its earnings per share within five years and adding $4 billion in gross profit, while also undertaking a $400 million expansion of its Chesterfield research facility. Monsanto carries a Fitch rating of A- based on the company’s ‘substantive market position’, its expertise in plant biotechnology R&D, its robust operating margins, positive cash flow, solid liquidity, and moderate level of leverage.
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