OCI NV, Amsterdam, on Jan. 18 announced that Iowa Fertilizer Company LLC (IFCo) exercised the option to redeem the outstanding principal amount of the 5.875 percent c.$147.2 million of Iowa Finance Authority Midwestern Disaster Area Revenue Refunding Bonds (Iowa Fertilizer Company Project), Series 2016, due 2026 and 2027.
The expected redemption date is Feb. 1, 2021. OCI said this transaction is expected to result in additional recurring cash interest savings, and marks the continuation of the company’s financial policy to optimize its capital structure.