Overland Park, Kan.-Compass Minerals International Inc. said May 21 that it is proposing to offer, in a private placement, $100.0 million in aggregate principal amount of senior notes due 2019. The proceeds will be used to fund the concurrent tender offer to purchase any or all Compass outstanding $89.6 million in aggregate principal amount 12 percent senior subordinated discount notes due 2013. The senior notes being offered will not be registered under the Securities Act of 1933, and may not be offered or sold in the U.S. absent registration or an applicable exemption from registration requirements. The senior notes are being offered only to qualified institutional buyers under Rule 144A and outside the U.S. in compliance with Regulation S under the Securities Act.
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