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Deere & Co. is selling more debt than at any time in its history, exploiting demand from investors who are charging unprecedented low interest rates even as the world’s largest maker of farm equipment said it won’t be as profitable as forecast.

A $1 billion offering yesterday from Deere’s finance unit of three- and five-year notes at its lowest coupons brings its 2012 issuance to $7.35 billion, exceeding the total in any previous year, according to data compiled by Bloomberg. Average yields on the company’s bonds fell even after Deere said net income in the year ending Oct. 31 will be $250 million less than a May estimate.


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