BB&T Serves as Co-Manager for Ingredion Inc.’s $500 Million Offering of 3.20% Senior Notes due 2026
On September 15, 2016, BB&T Capital Markets served as a co-manager for a $500 million offering of 3.20% senior notes due 2026 by Ingredion, Inc.
The net proceeds from this offering will be used to repay approximately $350 million of outstanding debt under the company’s term loan, and approximately $42 million of outstanding debt under the company’s revolving credit facility. The remaining amount will be used for general corporate purposes.
About the Companies
Ingredion, Inc. (INGR), together with its subsidiaries, manufactures and sells starches and sweeteners to various industries. It offers sweetener products comprising glucose syrups, high maltose syrups, high fructose corn syrups, caramel colors, dextrose, polyols, maltodextrins and glucose, and syrup solids, as well as food-grade and industrial starches, and biomaterials.
Food & Agribusiness
BB&T Capital Markets assists middle market clients across all sectors of the Food & Agribusiness industry. We have established relationships with a wide range of public and private food companies, private equity investors, and other industry participants. As full-service platform, we provide M&A advisory, equity underwriting, debt capital markets, corporate banking, sales and trading, and private capital raising services. Our nationally recognized industry expertise, combined with our best-in-class transaction execution, enables us to maximize outcomes for our corporate and private equity clients.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.