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People & Business :: Companies
CF Issues Shares, Debt, to Repay Bridge Loan (Update)
9:13 AM MDT | April 16, 2010 | Vincent Valk
CF Industries is issuing 10.8 million shares of common stock, and $1.6 billion in new debt, to repay a $1.75 billion bridge loan, the company says. The bridge loan was used to help fund last month's acquisition of Terra Industries. Remaining proceeds from the public debt sale will go to repay a $2 billion term loan, which was also used to help fund the Terra acquisition. The interest rate and maturation date of the debt has not been announced. Shares in CF closed at $92.90 on April 9. The company has not disclosed the closing dates either the stock or debt...
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