Mosaic calls 11¼% notes due 2011

By Michelle Anderson

Rochester, N.H., Feb. 27 - The Mosaic Co. announced that its subsidiary, Mosaic Global Holdings Inc., is redeeming the remaining $29,395,000 principal amount of its 11¼% senior notes due 2011 on April 2.

The notes are being redeemed at $1,056.25 per $1,000 principal amount with accrued and unpaid interest of $37.8125 per $1,000, according to a press release.

The notes are those remaining after Mosaic Global Holdings bought back $374,065,000 of the notes in a tender offer on Dec. 1, 2006 as part of a refinancing.

The company will fund the upcoming redemption with general corporate funds, including the proceeds of the refinancing.

Mosaic is a Plymouth, Minn.-based producer and marketer of concentrated phosphate and potash crop nutrients for the agriculture industry.

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