DBRS Assigns “A” Rating to Deere & Company New Issuance

DBRS has today assigned an “A” rating with a Stable trend to Deere and Company’s (Deere or the Company) issuance of $2.25 billion senior unsecured notes (the Notes).

The Notes were issued in two fixed-rate tranches: (1) a tranche with a principal amount of $1 billion, with a 2.60% coupon, maturing on June 8, 2022; and (2) a tranche with a principal amount of $1.25 billion, with a 3.90% coupon, maturing on June 9, 2042.

The Notes are senior unsecured obligations of Deere and rank pari passu with all of the Company’s unsecured and unsubordinated indebtedness. Deere intends to use the proceeds for general corporate purposes.

The Notes are issued under the Company’s indenture dated September 25, 2008.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Companies in the Industrial Products Industry, which can be found on our website under Methodologies.