ADM bags $850m from Wilmar block, EB combo

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By Jonathan Breen
20 Aug 2020

US food and commodities firm Archer-Daniels-Midland Co has tapped the equity capital markets for the first time in more than a decade, using a concurrent block of Wilmar International shares and an exchangeable bond — with the same underlying stock — to raise $850m. Jonathan Breen reports.

ADM, a food processing and commodities trading firm, had been eyeing an opportunity to capitalise on Singapore-listed agribusiness company Wilmar International’s share price for some time. It seized its chance on Wednesday evening, after the stock closed at around a 52-week high, according to a source close to ...

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