Nutrien to offer two tranches of dollar-denominated senior notes

By Mary-Katherine Stinson

Lexington, Ky., March 23 – Nutrien Ltd. will offer two tranches of senior notes, according to a prospectus supplement filed with the Securities and Exchange Commission.

The notes will have a make-whole call at Nutrien’s option until some months before maturity, after which they will be callable at par.

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

They will also be redeemable at par because of a change in Canadian taxation.

BMO Capital Markets Corp., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and Scotia Capital (USA) Inc. are leading the sale.

Bank of New York Mellon is the trustee.

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

Proceeds will be used to repay Nutrien’s $500 million 1.9% senior notes at their maturity on May 13, to reduce outstanding indebtedness under our short-term credit facilities, to finance working capital and for general corporate purposes.

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

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