Nutrien Ltd. completes US$1 billion senior notes offering, expands financial flexibility

Company

Nutrien Ltd.

Law Firm / Organization
Blake, Cassels & Graydon LLP
Law Firm / Organization
Jones Day

Bank

CIBC Capital Markets

Bank

Goldman Sachs & Co. LLC

Company

J.P. Morgan Securities LLC

Bank

RBC Capital Markets, LLC

Bank

Barclays Capital Inc.

Bank

PNC Capital Markets LLC

Company

Rabo Securities USA, Inc.

Bank

TD Securities (USA) LLC

Bank

Wells Fargo Securities, LLC

Bank

BMO Capital Markets Corp.

Bank

BofA Securities, Inc.

Bank

Citigroup Global Markets Inc.

Bank

Morgan Stanley & Co. LLC

Bank

MUFG Securities Americas Inc.

Bank

Santander US Capital Markets LLC

Bank

Scotia Capital (USA) Inc.

Bank

SMBC Nikko Securities America, Inc.

Company

ANZ Securities, Inc.

Company

Evercore Group L.L.C.

Bank

U.S. Bancorp Investments, Inc.

Announced on June 17, 2024, and closed on June 21, 2024, Nutrien Ltd. completed a USD 1 billion (approximately CAD 1.33 billion) offering of senior notes, comprising USD 400 million (CAD 532 million) in 5.200% notes due 2027 and USD 600 million (CAD 798 million) in 5.400% notes due 2034. Proceeds were allocated to retire USD 500 million (CAD 665 million) of 5.900% senior notes maturing in November 2024, reduce short-term debt, support working capital, and fund general corporate purposes. CIBC Capital Markets, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and RBC Capital Markets led the underwriting syndicate, which included Barclays Capital Inc., PNC Capital Markets LLC, Rabo Securities USA, Inc., TD Securities (USA) LLC, Wells Fargo Securities, LLC, BMO Capital Markets Corp., BofA Securities, Inc., Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., Santander US Capital Markets LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., ANZ Securities, Inc., Evercore Group L.L.C., and U.S. Bancorp Investments, Inc. Legal counsel included Blake, Cassels & Graydon LLP for Canadian law, Jones Day for U.S. law, and Skadden, Arps, Slate, Meagher & Flom LLP for the underwriters. The notes were unlisted, with liquidity depending on potential market-making by the underwriters.

Public/Private Offering
Agriculture
$ 1,330,000,000
Closed
21 June 2024