Terra called 7¾% notes, terminated $150 million loan with CF merger

By Jennifer Chiou

New York, May 7 - Terra Industries Inc. called in full its 7¾% unsecured senior notes due 2019 and terminated its $150 million facility at Terra Capital, Inc. on April 5 in conjunction with the merger transaction with CF Industries Holdings Inc., according to a 10-Q filing with the Securities and Exchange Commission on Friday.

On April 5, CF acquired about 79% of Terra's outstanding stock and then began a subsequent offering period to acquire the remaining shares.

The company issued $600 million of the notes in October 2009 in order to fund a special cash dividend and to refinance its 7% unsecured senior notes due 2017.

CF Industries is a Deerfield, Ill.-based producer and distributor of nitrogen and phosphate fertilizer products. Terra is a Sioux City, Iowa-based producer and marketer of nitrogen and methanol products.

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