Saskatoon-Potash Corp. of Saskatchewan Inc. said Nov. 22 that it has priced an offering of US$500 million aggregate principal amount of 3.25 percent notes due December 1, 2017, and US$500 million aggregate principal amount of 5.625 percent notes due December 1, 2040. PotashCorp intends to use the net proceeds from the offering for general corporate purposes, including repurchases of its common shares pursuant to its US$2.0 billion share repurchase program announced on Nov. 16, 2010 (GM Nov. 22, p. 11). The offering is expected to close on November 30, 2010, subject to customary closing conditions. The offering is being made under an automatic shelf registration statement filed with the Securities and Exchange Commission on June 28, 2010. BofA Merrill Lynch, Goldman, Sachs & Co., Morgan Stanley, RBC Capital Markets, and Scotia Capital are acting as joint book-running managers of the offering. BMO Capital Markets, HSBC, Jefferies & Company, Rabo Securities, UBS Investment Bank, CIBC, and Mitsubishi UFJ Securities are acting as co-managers of the offering.
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