|By PR Newswire||
|March 4, 2014 05:22 PM EST||
Listed: TSX, NYSE Symbol: POT
SASKATOON, SK, March 4, 2014 /PRNewswire/ - Potash Corporation of Saskatchewan Inc. (PotashCorp) today announced that it has priced an offering of US $750 million aggregate principal amount of 3.625 percent notes due March 15, 2024.
BofA Merrill Lynch, Morgan Stanley and UBS Investment Bank are acting as joint book-running managers of the offering. BMO Capital Markets, RBC Capital Markets, Scotiabank, CIBC, HSBC, Mitsubishi UFJ Securities, Rabo Securities, TD Securities, Goldman, Sachs & Co., Credit Agricole CIB, SMBC Nikko, US Bancorp, and Comerica Securities are acting as co-managers of the offering.
PotashCorp intends to use the net proceeds of the offering for general corporate purposes, including to refinance its US $500 million aggregate principal amount of outstanding 5.250% notes maturing on May 15, 2014. The offering is expected to close on March 7, 2014, subject to customary closing conditions.
The offering is being made under an automatic shelf registration statement filed with the Securities and Exchange Commission on June 28, 2013. The offering may be made only by means of a prospectus and related prospectus supplement, copies of which may be obtained by contacting Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, email [email protected]; Morgan Stanley, Prospectus Department, 180 Varick Street, New York, NY, 10014, telephone: 1-866-718-1649; or UBS Investment Bank, Prospectus Specialist, 299 Park Avenue, New York, NY, 10171, telephone: 1-877-827-6444 extension 561 3884. An electronic copy of the registration statement and prospectus supplement, together with the prospectus, is available on the SEC's website.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offers of the notes will be made exclusively by means of a prospectus and prospectus supplement.
PotashCorp is the world's largest crop nutrient company and plays an integral role in global food production. The company produces the three essential nutrients required to help farmers grow healthier, more abundant crops. With global population rising and diets improving in developing countries, these nutrients offer a responsible and practical solution to meeting the long-term demand for food. PotashCorp is the largest producer, by capacity, of potash and among the largest in nitrogen and phosphate. While agriculture is its primary market, the company also produces products for animal nutrition and industrial uses. Common shares of Potash Corporation of Saskatchewan Inc. are listed on the Toronto Stock Exchange and the New York Stock Exchange.
This release contains forward-looking statements or forward-looking
information (forward-looking statements). These statements can be
identified by expressions of belief, expectation or intention, as well
as those statements that are not historical fact. These statements
often contain words such as "should", "could", "expect", "may",
"anticipate", "believe", "intend", "estimates", "plans" and similar
expressions. These statements are based on certain factors and
assumptions including with respect to: foreign exchange rates, expected
growth, results of operations, performance, business prospects and
opportunities and effective tax rates. While the company considers
these factors and assumptions to be reasonable based on information
currently available, they may prove to be incorrect. Forward-looking
statements are subject to risks and uncertainties that are difficult to
predict. The results or events set forth in forward-looking statements
may differ materially from actual results or events. Several factors
could cause actual results or events to differ materially from those
expressed in the forward-looking statements including, but not limited
to, the following: variations from our assumptions with respect to
foreign exchange rates, expected growth, results of operations,
performance, business prospects and opportunities and effective tax
rates; risks and uncertainties related to operating and workforce
changes made in response to our industry and the markets we serve;
changes in competitive pressures, including pricing pressures; risks
and uncertainties related to our international operations and assets;
fluctuations in supply and demand in the fertilizer, sulfur,
transportation and petrochemical markets; costs and availability of
transportation and distribution for our raw materials and products,
including railcars and ocean freight; adverse or uncertain economic
conditions and changes in credit and financial markets; the results of
sales contract negotiations within major markets; unexpected geological
or environmental conditions, including water inflows; economic and
political uncertainty around the world; risks associated with natural
gas and other hedging activities; changes in capital markets;
unexpected or adverse weather conditions; changes in currency and
exchange rates; imprecision in reserve estimates; adverse developments
in new and pending legal proceedings or government investigations;
acquisitions we may undertake; increases in the price or reduced
availability of the raw materials that we use; strikes or other forms
of work stoppage or slowdowns; timing and impact of capital
expenditures; rates of return on, and the risks associated with, our
investments and capital expenditures; changes in, and the effects of,
government policies and regulations; security risks related to our
information technology systems; risks related to reputational loss; and
earnings and the decisions of taxing authorities which could affect our
effective tax rates. Additional risks and uncertainties can be found in
our Form 10-K for the fiscal year ended December 31, 2013 under the
captions "Forward-Looking Statements" and "Item 1A - Risk Factors" and
in our other filings with the US Securities and Exchange Commission and
the Canadian provincial securities commissions. Forward-looking
statements are given only as at the date of this release and the
company disclaims any obligation to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
SOURCE Potash Corporation of Saskatchewan Inc.
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