Adecoagro (AGRO) said Friday it plans to offer senior unsecured notes in a private placement, proceeds from which will be used to fund a cash tender offer for any and all of its 6% notes due 2027.

The company said it will use any remaining proceeds for general corporate purposes, including capital expenditures and liability management.

In a separate statement, the company said it has started the a tender offer for about $415.6 million of 6% notes due 2027.

The tender offer is set to expire on on July 24, unless extended or earlier terminated, the company said.

Adecoagro shares were 1.6% higher in recent trading.

Price: 9.67, Change: +0.12, Percent Change: +1.27