AGCO Corp. is planning to sell $300 million in 10-year 144A private placement bonds in the U.S. credit markets Monday, according to a person familiar with the deal.

The agricultural equipment manufacturer and distributor is raising funds in connection with the October 3 $940 million acquisition of GSI Holdings.

The bonds are expected to be rated Ba1 by Moody's Investors Service and BBB- minus by Standard & Poor's.

The lead underwriter is J.P. Morgan Chase & Co. (JPM).

GSI is an Assumption, Ill., global manufacturer of grain storage and protein production systems. According to a company press release announcing the acquisition, GSI has annual revenue of more than $700 million.

—   By Patrick McGee, Dow Jones Newswires; 212-416-2382; patrick.mcgee@