ADM Prices First-Ever Sustainable Bond Offering, Further Bolstering Work to Drive Positive Global Impacts

CHICAGO--(BUSINESS WIRE)--ADM (NYSE: ADM) announced today the successful pricing of its first sustainable bond, which will support initiatives to advance the company’s goals across the environmental, social and governance (“ESG”) spectrum. ADM agreed to issue $750 million in aggregate principal amount of 2.900% notes due 2032. The offering is expected to close on February 28, 2022, subject to the satisfaction of customary closing conditions.

“Sustainability underlines our purpose and powers our strategy,” said ADM Chairman and CEO Juan Luciano. “Consumers are demanding responsibly-produced products, and ADM is meeting those needs, from our new Scope 3 goal, to our commitment to a deforestation-free supply chain, to our growing array of plant-based replacements for petroleum-derived products, to our leadership role in decarbonizing food and agriculture. This work is a key driver of our strategy, and more: It’s a global imperative, and today’s bond offering is another demonstration of how our unmatched capabilities are scaling positive impact around the globe.”

ADM intends to use the net proceeds from the offering to finance and/or refinance projects that meet certain criteria set forth in its Sustainable Financing Framework (the “Framework”). ADM adopted the Framework in February 2022, and eligible projects will fall under one or more of the following categories: (i) green projects related to sustainable aquaculture and animal husbandry, sustainable agriculture, green buildings, energy efficiency, renewable energy, clean transportation, water and waste management, and pollution prevention and control; and (ii) social projects related to socioeconomic advancement and empowerment, and food security and sustainable food systems.

ADM obtained a second-party opinion on the Framework, which concluded that the Framework is aligned with the International Capital Market Association’s Sustainability Bond Guidelines, 2021.

The Framework and additional information about ADM’s sustainability commitments and ESG initiatives can be found on ADM’s website.

BNP Paribas Securities Corp. and J.P. Morgan Securities LLC acted as joint book-running managers for the offering. BofA Securities, Inc., Citigroup Global Markets Inc., Barclays Capital Inc., Deutsche Bank Securities Inc., MUFG Securities Americas Inc., Academy Securities, Inc., Guzman & Company, Loop Capital Markets LLC and Siebert Williams Shank & Co., LLC also served as underwriters for the offering.

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any of the sustainable bonds or any other securities, nor will there be any offer, solicitation or sale of the sustainable bonds or any other securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering was made only by means of a prospectus supplement and an accompanying prospectus filed as part of an effective shelf registration statement with the Securities and Exchange Commission on Form S-3. Copies of the prospectus supplement and accompanying prospectus may be obtained by calling BNP Paribas Securities Corp. at [phone] or J.P. Morgan Securities LLC at [phone].

Forward-Looking Statements

Some of the above statements constitute forward-looking statements. ADM’s filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, ADM assumes no obligation to update any forward-looking statements.

About ADM

ADM unlocks the power of nature to enrich the quality of life. We’re a premier global human and animal nutrition company, delivering solutions today with an eye to the future. We’re blazing new trails in health and well-being as our scientists develop groundbreaking products to support healthier living. We’re a cutting-edge innovator leading the way to a new future of plant-based consumer and industrial solutions to replace petroleum-based products. We’re an unmatched agricultural supply chain manager and processor, providing food security by connecting local needs with global capabilities. And we’re a leader in sustainability, scaling across entire value chains to help decarbonize our industry and safeguard our planet. From the seed of the idea to the outcome of the solution, we give customers an edge in solving the nutritional and sustainability challenges of today and tomorrow. Learn more at www.adm.com.

Source: Corporate release