WESTCHESTER, Ill., April 4, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Corn Products
International, Inc. (NYSE: CPO), a leading global provider of agriculturally
derived ingredients to diversified industries, today announced the pricing of
a public offering of $200 million aggregate principal amount of 6% senior
unsecured notes due April 15, 2017 and a public offering of $100 million
aggregate principal amount of 6.625% senior unsecured notes due April 15,
The offerings were made pursuant to a registration statement filed with
the US Securities and Exchange Commission. The transactions are expected to
close on April 10, 2007.
Corn Products International plans to use the net proceeds to pay at
maturity its $255 million outstanding principal amount of 8.25% senior notes
due July 15, 2007, as well as for general corporate purposes.
Citigroup Global Markets Inc. and Morgan Stanley & Co. Incorporated will
serve as joint book-running managers for the offerings.
These offerings of senior unsecured notes may be made only by means of a
prospectus supplement and an accompanying prospectus. Copies of the prospectus
supplement and the accompanying prospectus relating to these offerings can be
obtained from Citigroup Global Markets Inc. toll free at 1-877-858-5407 or
Morgan Stanley & Co. Incorporated toll free at 1-866-718-1649.
This press release shall not constitute an offer to sell or a solicitation
of an offer to buy, nor shall there be any sale of, these senior unsecured
notes in any jurisdiction in which such an offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws
of any such jurisdiction.
Corn Products International, headquartered in Westchester, Ill., is one of
the world's largest corn refiners and a major supplier of high-quality food
ingredients and industrial products derived from the wet milling and
processing of corn and other starch-based materials. In 2006, Corn Products
International reported consolidated net sales of $2.62 billion.
This news release contains or may contain forward-looking statements
within the meaning of Section 27A of the Securities Exchange Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. The Company intends these
forward looking statements to be covered by the safe harbor provisions for
such statements. These statements can sometimes be identified by the use of
forward looking words such as "may," "will," "should," "anticipate,"
"believe," "plan," "project," "estimate," "expect," "intend," "continue," "pro
forma," "forecast" or other similar expressions or the negative thereof. All
statements other than statements of historical facts in this release or
referred to in this release are "forward-looking statements." These statements
are subject to certain inherent risks and uncertainties including market
conditions and other factors beyond our control. Actual results and
developments may differ materially from the expectations conveyed in these
statements, based on various factors. Our forward-looking statements speak
only as of the date on which they are made and we do not undertake any
obligation to update any forward-looking statement to reflect events or
circumstances after the date of the statement. If we do update or correct one
or more of these statements, investors and others should not conclude that we
will make additional updates or corrections. For a further description of
these risks, see Risk Factors included in our Annual Report on Form 10-K for
the year ended December 31, 2006 and subsequent reports on Forms 10-Q or 8-K.
SOURCE Corn Products International, Inc.
Investor: Dave Prichard, +1-708-551-2592, or Media: Mark Lindley, +1-708-551-2602,
both for Corn Products International, Inc.