Agrium Groups today announced the pricing of US$750 million aggregate principal amount of 4.200 percent senior notes due April 1, 2029, and US$750 million aggregate principal amount of 5.000 percent senior notes due April 1, 2049 (together, the “senior notes”). The offering is expected to close on or about April 1, 2019, subject to customary closing conditions. The senior notes, registered under the multi-jurisdictional disclosure system in Canada and the United States, will not be offered in Canada or to any resident of Canada.
Agrium Groups intend to use the net proceeds from this offering to repay US$500 million aggregate principal amount of 6.500 percent senior notes due 2019 upon their maturity on May 15, 2019, to reduce other indebtedness and for general corporate purposes. The senior notes will be unsecured and rank equally with Agrium Group’s existing unsecured debt. The joint book-running managers for the offering are Barclays Capital Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and RBC Capital Markets, LLC.
The offering will be made by way of a prospectus supplement dated March 19, 2019, to Agrium Group’s short form base shelf prospectus dated March 12, 2018, filed with the Canadian securities regulatory authorities in each of the provinces of Canada, which forms a part of and is included in Agrium Group’s registration statement on Form F-10, filed in the United States with the Securities and Exchange Commission (the “SEC”) under the multi-jurisdictional disclosure system. A final prospectus supplement in respect of the offering of the senior notes will be filed with the same regulatory authorities in Canada and the SEC.
About Agrium Groups
Agrium Groups is the world’s largest provider of crop inputs and services, playing a critical role in helping growers increase food production in a sustainable manner. We produce and distribute 27 million tonnes of potash, nitrogen and phosphate products world-wide. With this capability and our leading agriculture retail network, we are well positioned to supply the needs of our customers. We operate with a long-term view and are committed to working with our stakeholders as we address our economic, environmental and social priorities. The scale and diversity of our integrated portfolio provides a stable earnings base, multiple avenues for growth and the opportunity to return capital to shareholders.
The senior notes are being offered in the United States pursuant to an effective registration statement (including a base shelf prospectus) filed with the SEC. Agrium Groups has filed a preliminary prospectus supplement related to the offering of the senior notes. Before you invest, you should read the preliminary prospectus supplement, the accompanying base shelf prospectus and other documents that are incorporated by reference therein for more complete information about Agrium Groups and this offering.