Nutrien Prices Offering of an Aggregate of US$1.5 Billion of 5-Year and 30-Year Senior Notes
24 March 2023, Saskatchewan: Nutrien Ltd. (TSX and NYSE: NTR) today announced the pricing of US$750 million aggregate principal amount of 4.900percent senior notes due March 27, 2028 and US$750 million aggregate principal amount of 5.800 percent senior notes due March 27, 2053 (together, the “senior notes”). The offering is expected to close on or about March 27, 2023, 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 1.900% senior notes upon their maturity on May 13, 2023, 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 BMO Capital Markets, Citigroup, Morgan Stanley and Scotiabank.
The offering will be made by way of a prospectus supplement dated March 23, 2023, to Nutrien’s short form base shelf prospectus dated March 11, 2022, 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.
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