Ingredion Announces Pricing of $1 Billion Senior Notes Offering

WESTCHESTER, Ill., May 08, 2020 (GLOBE NEWSWIRE) — Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to the food manufacturing industry, today announced the pricing of an offering of $600 million principal amount of 2.900% senior notes due 2030 and $400 million principal amount of 3.900% senior notes due 2050.The offering was made pursuant to a registration statement filed with the U.S. Securities and Exchange Commission. The offering is expected to close on May 13, 2020, subject to customary closing conditions.Ingredion estimates that the net proceeds from the offering will be approximately $986 million after deducting the underwriting discount and before deducting other estimated expenses. Ingredion plans to use the net proceeds of this offering to repay all or a portion of the outstanding indebtedness under our revolving credit facility and our 4.625% senior notes due 2020, and to use any remaining amount of net proceeds for general corporate purposes.BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC acted as joint book-running managers for the offering.The offering of senior 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 the offering can be obtained from: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 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.ABOUT THE COMPANY
Ingredion Incorporated (NYSE: INGR), headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2019 annual net sales over $6 billion, Ingredion turns grains, fruits, vegetables and other plant­-based materials into value­-added ingredients solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion Idea Labs^® innovation centers around the world and more than 11,000 employees, Ingredion co-­creates with customers and fulfills its purpose of bringing together the potential of people, nature and technology to create ingredient solutions that make life better.