Canada's Agrium plans $500 million offering of 10-year debentures

By Andrea Heisinger

New York, Sept. 24 - Agrium Inc. announced a $500 million offering of 10-year debentures on Monday with a do-not-grow provision on it, according to a filing with the Securities and Exchange Commission and a market source.

The notes (Baa2/BBB/) feature a change-of-control put at 101%.

Bank of America Merrill Lynch, RBC Capital Markets LLC and Scotia Capital USA Inc. are the bookrunners.

Proceeds will be used to fund capital expenditures and for general corporate purposes.

The retailer of agricultural products is based in Calgary, Alta.

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