St. Paul — CHS Inc. announced July 18 that it has filed a Registration Statement on Form S-1 with the Securities and Exchange Commission in anticipation of a proposed public offering of Class B Reset Rate Cumulative Redeemable Preferred Stock (stock). The number of shares to be offered and the initial dividend rate applicable to the stock have not yet been determined. The SEC filing has not yet become effective, and the shares of stock to be registered may not be sold, nor may offers to buy be accepted prior to the time when the statement becomes effective. CHS said it has not yet determined with certainty how the proceeds would be used, with management having broad discretion. However, items mentioned included acquisitions, a replacement coker at one of its refineries with a total cost of $555 million and expected completion in fiscal 2015; or funding a $327 million expansion at its McPherson, Kan., refinery. Not mentioned at this stage was the proposed nitrogen plant in Spiritwood, N.D.
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