Nutrien settles make-whole redemptions of six series of notes

By Marisa Wong

Los Angeles, Dec. 17 – Nutrien Ltd. announced it settled the redemptions of the entire outstanding amounts of six series of securities totaling $1.8 billion on Dec. 16.

The securities were redeemed at make-whole redemption prices as follows:

• $492,071,000 outstanding 3.5% senior notes due 2023 (Cusip: 67077MAK4) issued by Nutrien were redeemed at $1,039.91 per $1,000 principal amount;

• $7,929,000 outstanding 3.5% debentures due 2023 (Cusip: 008916AL2) issued by wholly owned subsidiary Agrium Inc. were redeemed at $1,039.91 per $1,000 principal amount;

• $707.94 million outstanding 3.625% senior notes due 2024 (Cusip: 67077MAC2) issued by Nutrien were redeemed at $1,055.41 per $1,000 principal amount;

• $42.06 million outstanding 3.625% notes due 2024 (Cusip: 73755LAL1) issued by wholly owned subsidiary Potash Corp. of Saskatchewan Inc. were redeemed at $1,060.45 per $1,000 principal amount;

• $533,912,000 outstanding 3.375% senior notes due 2025 (Cusip: 67077MAL2) issued by Nutrien were redeemed at $1,063.84 per $1,000 principal amount; and

• $16,088,000 outstanding 3.375% debentures due 2025 (Cusip: 008916AP3) issued by Agrium were redeemed at $1,063.81 per $1,000 principal amount.

Nutrien also announced on Thursday that it settled its cash tender offer to purchase up to $300 million of debt securities from 11 series.

As previously reported, holders had tendered a total of $703,871,000 of notes. The company decided to accept notes tendered from the first seven series in acceptance priority and none of the tendered notes from series of lower acceptance priority. The company accepted a total of $203,356,000 of notes, with proration applied to one of the series.

Nutrien is a Canadian fertilizer manufacturer based in Saskatoon, Sask. Agrium is a Calgary, Alta.-based agriculture products retailer. Potash is a fertilizer and related industrial and feed products company based in Saskatoon, Sask.

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