Mosaic to redeem remaining US$469M of aggregate principal amount of its 7-5/8% senior notes due December 2016 with redemption date likely to be Dec. 1
Alison Gallant
PLYMOUTH, Minnesota
,
October 12, 2011
(press release)
–
The Mosaic Company (NYSE:MOS - News) announced today that it plans to redeem the remaining $469 million aggregate principal amount of its 7-5/8% senior notes due December 2016 (the "Notes") pursuant to the terms of the Indenture dated as of December 1, 2006 relating to the Notes. The redemption date is expected to be December 1, 2011. Calling the bonds is expected to eliminate annual interest expense of approximately $36 million, upon redemption of the Notes.
The Notes will be redeemed at a price of $1,038.13 per $1,000 principal amount. Interest accrued and unpaid to the redemption date will be paid on December 1, 2011 to the holder of record of the redeemed Notes on the regular record date of November 15, 2011. The Company expects to record a charge of approximately $20 million in its third fiscal quarter, primarily related to the call premium.
About The Mosaic Company
The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single source provider of phosphate and potash fertilizers and feed ingredients for the global agriculture industry. More information on the company is available at www.mosaicco.com.
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