Canada's Agrium plans $400 million offering of 30-year debentures

By Aleesia Forni

Virginia Beach, Nov. 13 – Agrium Inc. announced a $400 million offering of 30-year debentures on Thursday, according to a filing with the Securities and Exchange Commission and a market source.

The notes 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 reduce short-term debt and for general corporate purposes.

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

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