Canada's Agrium prepares debenture sale in 10-, 30-year maturities

By Andrea Heisinger

New York, May 28 - Agrium Inc. is in the market Tuesday with an offering of senior debentures (Baa2/BBB/) in tranches due 2023 and 2043, according to a market source and a SUPPL filing with the Securities and Exchange Commission.

There is a change-of-control put at 101% on the bonds.

BofA Merrill Lynch, RBC Capital Markets LLC and Scotia Capital (USA) Inc. are the bookrunners.

Proceeds will be used to fund anticipated capital expenditures.

Agrium last tapped the U.S. bond market with a $500 million sale of 3.15% 10-year notes priced at 145 basis points over Treasuries on Sept. 24, 2012.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.