Nutrien to offer two tranches of senior notes due 2024, 2025

By Mary-Katherine Stinson and Cristal Cody

Lexington, Ky., Nov. 7 – Nutrien Ltd. will offer two tranches of senior notes, according to a prospectus supplement filed with the Securities and Exchange Commission.

The notes are expected to have Nov. 7, 2024 and Nov. 7, 2025 maturity dates, a market source noted.

Talk for the notes due 2024 is in the Treasuries plus 150 basis points area and for the notes due 2025 in the Treasuries plus 160 bps area.

The notes have a make-whole call at Nutrien’s option any time before maturity.

The notes will be putable at 101 in the event of a change of control.

Barclays, BofA Securities, Inc. and Goldman Sachs & Co. LLC are leading the sale.

RBC Capital Markets, LLC, Scotia Capital (USA) Inc. and TD Securities (USA) LLC join as joint bookrunners.

Bank of New York Mellon is the trustee.

Blake, Cassels & Graydon LLP will advise Nutrien regarding Canadian law and Jones Day regarding U.S. law. Skadden, Arps, Slate, Meagher & Flom LLP will serve as counsel for the underwriters.

Proceeds will be used to reduce outstanding debt under Nutrien’s short-term credit facilities, to finance working capital and for general corporate purposes.

Nutrien is a Canadian fertilizer manufacturer based in Saskatoon, Sask.

© 2015 Prospect News.
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