Incitec Pivot to sell five-year notes; size tied to overseas interest

By Andrea Heisinger

New York, Nov. 29 - Incitec Pivot Finance is planning an offering of five-year notes, an informed source said late Monday.

The notes (Baa3/BBB/BBB) are expected to be priced on Tuesday under Rule 144A. Deal size has not been determined, the source said. It will be based on interest in Europe and Asia overnight.

Bookrunners are Bank of America Merrill Lynch, Citigroup and RBS Securities.

The company last sold bonds in an $800 million issue of 6% 10-year notes on Dec. 3, 2009. This is Incitec's only outstanding paper.

The industrial and agricultural chemical manufacturer is based in Melbourne, Australia.

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