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SASKATOON — Potash Corp. of Saskatchewan Inc., a Canadian fertilizer seller, said Wednesday it has priced its notes offerings.
It will offer $500 million in 3.75 percent notes due Sept. 30, 2015, and $500 million in 4.875 percent notes due March 30, 2020.
The company plans to use the proceeds to pay down debt in its credit revolver and for general expenses.
BofA Merrill Lynch, HSBC and RBC Capital Markets are joint book-running managers. Scotia Capital, BMO Capital Markets, CIBC, Rabo Securities USA Inc., TD Securities, UBS Investment Bank, Comerica Securities, Mitsubishi UFJ Securities, Societe Generale, Goldman Sachs and Morgan Stanley are co-managers.
The offering is expected to close on Sept. 28.
Potash shares rose 8 cents to $93 in aftermarket trading after closing Wednesday at $92.92.
