Nutrien Ltd.’s $1.5 Billion Senior Notes Offering

Jones Day represented Nutrien Ltd. in the offerings.

Nutrien Ltd. (NYSE, TSX:NTR) announced the pricing of US$500 million aggregate principal amount of 1.900 percent senior notes due May 13, 2023, US$500 million aggregate principal amount of 2.950 percent senior notes due May 13, 2030 and US$500 million aggregate principal amount of 3.950 percent senior notes due May 13, 2050. The offering is expected to close on or about May 13, 2020, 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 reduce its short-term indebtedness, for general corporate purposes, to finance its capital expenditures and to fund recent growth initiatives. 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 Barclays Capital Inc., CIBC World Markets Corp., Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and TD Securities (USA) LLC.

Nutrien is the world’s largest provider of crop inputs and services, playing a critical role in helping growers increase food production in a sustainable manner. We produce and distribute 25 million tonnes of potash, nitrogen and phosphate products world-wide. With this capability and our leading agriculture retail network, we are well positioned to supply the needs of our customers. We operate with a long-term view and are committed to working with our stakeholders as we address our economic, environmental and social priorities. The scale and diversity of our integrated portfolio provides a stable earnings base, multiple avenues for growth and the opportunity to return capital to shareholders.

The Jones Day team was led by Joel MAy (Picture).

Involved fees earner: Joel May – Jones Day;

Law Firms: Jones Day;

Clients: Nutrien Ltd.;

Author: Ambrogio Visconti