CF Industries Holdings, Inc. Announces Partial Redemption of Senior Secured Notes Due 2021
October 30 2019 - 4:15PM
Business Wire
CF Industries Holdings, Inc. (NYSE: CF) today announced that its
wholly owned subsidiary CF Industries, Inc. has elected to redeem
on December 13, 2019, $250 million principal amount, representing
50% of the currently outstanding $500 million principal amount, of
its 3.400% Senior Secured Notes (the “Notes”) due December 2021, in
accordance with the optional redemption provisions provided in the
indenture governing the Notes. CF intends to use cash on hand to
fund the redemption.
This press release does not constitute a notice of redemption.
Beneficial holders of the Notes with any questions should contact
the brokerage firm or financial institution through which they hold
the Notes.
About CF Industries Holdings,
Inc.
CF Industries is a leading global fertilizer and chemical
company with outstanding operational capabilities and a
cost-advantaged production and distribution platform. Our 3,000
employees operate world-class manufacturing complexes in Canada,
the United Kingdom and the United States. We serve our customers in
North America through an unparalleled production, storage,
transportation and distribution network. We also reach a global
customer base with exports from our Donaldsonville, Louisiana,
plant, the world’s largest and most flexible nitrogen complex.
Additionally, we move product to international destinations from
our Verdigris, Oklahoma, facility; our Yazoo City, Mississippi,
facility; our Billingham and Ince facilities in the United Kingdom;
and a joint venture ammonia facility in the Republic of Trinidad
and Tobago in which we own a 50 percent interest. CF Industries
routinely posts investor announcements and additional information
on the company’s website at www.cfindustries.com and encourages
those interested in the company to check there frequently.
Safe Harbor Statement
All statements in this communication by CF Industries Holdings,
Inc. (together with its subsidiaries, the “Company”), other than
those relating to historical facts, are forward-looking statements.
Forward-looking statements can generally be identified by their use
of terms such as “anticipate,” “believe,” “could,” “estimate,”
“expect,” “intend,” “may,” “plan,” “predict,” “project,” “will” or
“would” and similar terms and phrases, including references to
assumptions. Forward-looking statements are not guarantees of
future performance and are subject to a number of assumptions,
risks and uncertainties, many of which are beyond the Company’s
control, which could cause actual results to differ materially from
such statements. These statements may include, but are not limited
to, statements about strategic plans and statements about future
financial and operating results.
Important factors that could cause actual results to differ
materially from those in the forward-looking statements include,
among others, the cyclical nature of the Company’s business and the
impact of global supply and demand on the Company’s selling prices;
the global commodity nature of the Company’s fertilizer products,
the conditions in the international market for nitrogen products,
and the intense global competition from other fertilizer producers;
conditions in the U.S. and European agricultural industry; the
volatility of natural gas prices in North America and Europe;
difficulties in securing the supply and delivery of raw materials,
increases in their costs or delays or interruptions in their
delivery; reliance on third party providers of transportation
services and equipment; the significant risks and hazards involved
in producing and handling the Company’s products against which the
Company may not be fully insured; the Company’s ability to manage
its indebtedness; operating and financial restrictions imposed on
the Company by the agreements governing the Company’s senior
secured indebtedness; risks associated with the Company’s
incurrence of additional indebtedness; the Company’s ability to
maintain compliance with covenants under the agreements governing
its indebtedness; downgrades of the Company’s credit ratings; risks
associated with cyber security; weather conditions; risks
associated with changes in tax laws and disagreements with taxing
authorities; the Company’s reliance on a limited number of key
facilities; potential liabilities and expenditures related to
environmental, health and safety laws and regulations and
permitting requirements; future regulatory restrictions and
requirements related to greenhouse gas emissions; risks associated
with expansions of the Company’s business, including unanticipated
adverse consequences and the significant resources that could be
required; the seasonality of the fertilizer business; the impact of
changing market conditions on the Company’s forward sales programs;
risks involving derivatives and the effectiveness of the Company’s
risk measurement and hedging activities; risks associated with the
operation or management of the strategic venture with CHS (the “CHS
Strategic Venture”), risks and uncertainties relating to the market
prices of the fertilizer products that are the subject of the
supply agreement with CHS over the life of the supply agreement,
and the risk that any challenges related to the CHS Strategic
Venture will harm the Company’s other business relationships; risks
associated with the Company’s Point Lisas Nitrogen Limited joint
venture; acts of terrorism and regulations to combat terrorism;
risks associated with international operations; and deterioration
of global market and economic conditions.
More detailed information about factors that may affect the
Company’s performance and could cause actual results to differ
materially from those in any forward-looking statements may be
found in CF Industries Holdings, Inc.’s filings with the Securities
and Exchange Commission, including CF Industries Holdings, Inc.’s
most recent annual and quarterly reports on Form 10-K and Form
10-Q, which are available in the Investor Relations section of the
Company’s web site. Forward-looking statements are given only as of
the date of this communication 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191030006057/en/
Media Chris Close Director, Corporate Communications
847-405-2542 – cclose@cfindustries.com
Investors Martin Jarosick Vice President, Investor
Relations 847-405-2045 – mjarosick@cfindustries.com
CF Industries (NYSE:CF)
Historical Stock Chart
From Aug 2024 to Sep 2024
CF Industries (NYSE:CF)
Historical Stock Chart
From Sep 2023 to Sep 2024