Potash Corp. of Saskatchewan to redeem 5.25% notes in full on April 7

By Angela McDaniels

Tacoma, Wash., March 7 - Potash Corp. of Saskatchewan Inc. will redeem all of its outstanding $500 million principal amount of 5.25% notes due May 15, 2014 on April 7, according to a company news release.

The make-whole redemption price will be calculated by reference to Treasuries plus 50 basis points.

The company will fund the redemption with the proceeds from its offering of $750 million principal amount of 3.625% notes due 2024. The notes priced on March 4 at 99.111 to yield 3.732%. The spread over Treasuries was 105 bps.

The company is based in Saskatoon, Sask., and makes fertilizer and related industrial and feed products.

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