Saskatoon-Potash Corp. of Saskatchewan Inc. said Nov. 29 that it has filed with the U.S. Securities Exchange Commission a preliminary prospectus supplement in connection with an offering in the U.S. of 30-year notes in the principal amount of US$500 million. The offering is pursuant to a shelf registration statement filed in the U.S. covering $1 billion of debt securities. PotashCorp intends to use a portion of the proceeds to repay its $400 million 7.125 percent notes when they mature June 15, 2007, and in the interim, to reduce outstanding short-term debt. It will use the balance for general corporate purposes.
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