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Nutrien Completes Debt Exchange Offers and Related Consent Solicitations
- Client News
- April 10, 2018
Paul, Weiss client Nutrien Ltd., formed through the recently completed $40 billion merger of equals of Agrium Inc. and Potash Corporation of Saskatchewan Inc., completed exchange offers and consent solicitations in respect of sixteen series of outstanding notes and debentures of Agrium and Potash in the aggregate principal amount of approximately $8 billion. The Agrium and Potash notes were exchanged for new notes issued by Nutrien having interest rates and maturities identical to those of the applicable exchanged series and a cash fee for consents to amend the terms of the Agrium and Potash notes remaining outstanding after the exchange offers.
In addition, on April 17, Nutrien successfully completed a consent solicitation to amend the reporting covenant applicable to an additional series of Agrium debentures.
The Paul, Weiss team advising Nutrien included corporate partners Christopher Cummings and Ted Maynard and counsel Christian Kurtz; tax partner David Sicular; and environmental counsel William O’Brien.