Corn Products boosts debt offering to $900 million

Corn Products International Inc., the U.S. corn refiner and producer of sweeteners, increased the size of a debt offering to $900 million, according to a person familiar with the transaction.

The company may sell $350 million of five-year notes that yield 180 basis points to 190 basis points and $400 million of 10-year debt that pays a spread of 200 basis points to 210 basis points, said the person, who declined to be identified because terms aren't set.

Corn Products, based in Westchester, also plans to sell $150 million of bonds due in 2037 in a reopening of an earlier offering, the person said. The debt may pay a spread of 230 basis points to 240 basis points, the person said. A basis point is 0.01 percentage point.

Corn Products earlier marketed $750 million of 5- and 10- year notes, the person said.