Israel Chemicals on roadshow for dollar 20- to 30-year notes; pricing expected Wednesday

By Rebecca Melvin

New York, May 22 – Israel Chemicals Ltd. was marketing its planned dollar-denominated offering of 20- to 30-year notes on Tuesday with the expectation that pricing would occur on Wednesday depending on market conditions, according to a syndicate source.

“Depending on how markets are it will price [Wednesday],” the source said.

BofA Merrill Lynch, Barclays, BNP Paribas and HSBC are the joint lead managers and bookrunners and are organizing meetings for the Rule 144A and Regulation S offering.

Israel Chemicals is concurrently tendering for any and all of its $800 million of 4˝% notes due 2024. The purchase price was set at $1,008.22 for each $1,000 principal amount using a reference yield of 2.90358%, according to a 6-K filing with the Securities and Exchange Commission.

Based in Tel Aviv, the issuer is a fertilizer and specialty chemicals company.

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