Nutrien Prices Offering of an Aggregate of US$1.0 Billion of 3-Year and 10-Year Senior Notes
June 17 2024 - 6:30PM
Business Wire
Nutrien Ltd. (TSX and NYSE: NTR) today announced the pricing of
US$400 million aggregate principal amount of 5.200 percent senior
notes due June 21, 2027 and US$600 million aggregate principal
amount of 5.400 percent senior notes due June 21, 2034 (together,
the “senior notes”). The offering is expected to close on or
about June 21, 2024, 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.
Nutrien intends to use the net proceeds from this offering to
repay its US$500 million aggregate principal amount of 5.900%
senior notes upon their maturity on November 7, 2024, to reduce
outstanding indebtedness under its short-term credit facilities, to
finance working capital and for general corporate purposes. The
senior notes will be unsecured and rank equally with Nutrien’s
existing senior unsecured debt. The joint book-running managers for
the offering are CIBC World Markets Corp., Goldman Sachs & Co.
LLC, J.P. Morgan Securities LLC, and RBC Capital Markets, LLC.
The offering will be made by way of a prospectus supplement
dated June 17, 2024, to Nutrien’s short form base shelf prospectus
dated March 22, 2024, filed with the securities regulatory
authorities in each of the provinces of Canada, which forms a part
of and is included in Nutrien’s registration statement on Form
F-10, filed in the United States with the Securities and Exchange
Commission (the “SEC”) under the multijurisdictional 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 Nutrien
Nutrien is a leading provider of crop inputs and services,
helping to safely and sustainably feed a growing world. We operate
a world-class network of production, distribution and ag retail
facilities that positions us to efficiently serve the needs of
growers. We focus on creating long-term value by prioritizing
investments that strengthen the advantages of our integrated
business and by maintaining access to the resources and the
relationships with stakeholders needed to achieve our goals.
Advisory
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. Nutrien 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 Nutrien and this offering.
The preliminary prospectus supplement and the accompanying base
shelf prospectus are available for free on the SEC website at
www.sec.gov. Alternatively, the documents may be obtained by
contacting CIBC World Markets Corp., 300 Madison Avenue, 8th Floor,
New York, NY 10017, Attention: Execution Management, email at
DLCIBUSEMG@cibc.com and toll-free at +1 (800) 282-0822; Goldman
Sachs & Co. LLC, 200 West Street, New York, NY 10282-2198,
Attention: Registration Department, email at
registration-syndops@ny.email.gs.com and toll-free at +1 (866)
471-2526; J.P. Morgan Securities LLC, 383 Madison Avenue, New York,
NY 10179, Attention: Investment Grade Syndicate Desk, at +1 (212)
834-6081 and RBC Capital Markets, LLC, toll-free at +1 (866)
375-6829.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
senior notes in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of such jurisdiction.
Forward-Looking Statements
Certain statements and other information included in this press
release constitute “forward-looking information” or
“forward-looking statements” (collectively, “forward-looking
statements”) under applicable securities laws (such statements are
often accompanied by words such as “should”, “could”, “expect”,
“may”, “anticipate”, “forecast”, “believe”, “intend”, “estimate”,
“plan” or other similar words). All statements in this press
release, other than those relating to historical information or
current conditions, are forward-looking statements, including, but
not limited to, forecasts and statements as to management’s
expectations with respect to, among other things, the intended use
of proceeds of the offering and the timing of closing of the
offering. Such forward-looking statements involve known and unknown
risks and uncertainties, many of which are beyond our control, as
well as various assumptions and business sensitivities, including
those risk factors referred to in the preliminary prospectus
supplement referenced in this press release and those referred to
under the heading “Risk Factors” in Nutrien’s annual information
form for the year ended December 31, 2023 and under the heading
“Key Enterprise Risks” in Nutrien’s management’s discussion and
analysis for the year ended December 31, 2023, which may cause
actual results, performance or achievements of Nutrien, which
includes the offering being delayed or not completed, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Nutrien disclaims any intention or obligation to update
or revise any forward-looking statements in this press release as a
result of new information or future events, except as may be
required under applicable Canadian securities legislation or
applicable U.S. federal securities law. These forward-looking
statements are based on certain assumptions and analyses made by us
in light of our experience and perception of historical trends,
current conditions and expected future developments as well as
other factors we believe are appropriate in the circumstances. All
of the forward-looking statements contained herein are qualified by
these cautionary statements and by the assumptions that are stated
or inherent in such forward-looking statements. Although we believe
these assumptions are reasonable, undue reliance should not be
placed on these assumptions and such forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20240617506892/en/
Investor Relations Jeff Holzman Vice President, Investor
Relations (306) 933-8545 Media Relations Megan Fielding Vice
President, Brand & Culture Communications (403) 797-3015
Contact us at: www.nutrien.com
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