Listed: TSX, NYSE
Symbol: POT
SASKATOON, SK, March 23, 2015 /CNW/ - Potash Corporation of
Saskatchewan Inc. (PotashCorp) today announced that it has priced
an offering of US $500 million
aggregate principal amount of 3.000 percent notes due April 1, 2025.
BofA Merrill Lynch, Goldman, Sachs & Co., HSBC and RBC
Capital Markets are acting as joint book-running managers of the
offering. BMO Capital Markets, Scotiabank, CIBC, Mitsubishi UFJ
Securities, Rabo Securities, TD Securities, Morgan Stanley, UBS
Investment Bank, Credit Agricole CIB, SMBC Nikko, and US Bancorp
are acting as co-managers of the offering.
PotashCorp intends to use the net proceeds of the offering for
general corporate purposes, which may include the redemption of its
US $500 million aggregate principal
amount of outstanding 3.750 percent notes maturing on September 30, 2015, although PotashCorp is not
required to redeem these notes prior to maturity. The offering is
expected to close on March 26, 2015,
subject to customary closing conditions.
The offering is being made under an automatic shelf registration
statement filed with, and declared effective by, 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 dg.prospectus_requests@baml.com;
Goldman, Sachs & Co., Prospectus Department, 200 West Street,
New York, NY 10282, telephone:
1-866-471-2526, facsimile: 212-902-9316,
email prospectus-ny@ny.email.gs.com; HSBC Securities
(USA) Inc., 452 Fifth Avenue,
New York, NY 10018, Attn:
Transaction Management Group, telephone (toll-free):
1-866-811-8049, email Debtprospectus@us.hsbc.com; or RBC Capital
Markets, LLC, Three World Financial Center, 200 Vesey St.
8th Floor, New York, NY
10281, telephone: 1-866-375-6829. 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 integrated fertilizer and
related industrial and feed products company by capacity and plays
an integral role in global food production. PotashCorp is the
world's largest producer, by capacity, of potash and one of the
largest producers of nitrogen and phosphate. These three essential
nutrients are required to help farmers grow healthier, more
abundant crops. With the 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. While agriculture is its primary market, the company also
produces products for animal feed 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 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; fluctuations in supply and demand in the fertilizer,
sulfur, transportation and petrochemical markets; changes in
competitive pressures, including pricing pressures; costs and
availability of transportation and distribution of our raw
materials and products, including railcars and ocean freight; risks
and uncertainties related to operating and workforce changes made
in response to our industry and the markets we serve; risks and
uncertainties related to our international operations and assets;
failure to prevent or respond to a major safety incident; adverse
or uncertain economic conditions and changes in credit and
financial markets; the results of sales contract negotiations
within major markets; 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; catastrophic events or malicious acts,
including terrorism; changes in currency and exchange rates;
imprecision in reserve estimates; adverse developments in new and
pending legal proceedings or government investigations; our
prospects to reinvest capital in strategic opportunities and
acquisitions; our ownership of non-controlling equity investments
in other companies; the impact of further technological innovation;
increases in the price or reduced availability of the raw materials
that we use; security risks related to our information technology
systems; 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; certain complications that may arise in our mining
process, including water inflows; our ability to attract, retain,
develop and engage skilled employees; 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,
2014 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.