The Mosaic Company announced it has issued notices to redeem the entire outstanding principal amount of three separate debt instruments, totaling approximately $537.2 million. The redemption, which includes two series of Senior Notes and one series of Debentures, will be funded with cash on hand.
Key Details
- Debt Redeemed: The redemption covers $304.9M of 4.050% Senior Notes due 2027, $124.1M of 5.375% Senior Notes due 2028, and $108.2M of 7.30% Debentures due 2028.
- Timeline and Funding: The redemption date for all notes and debentures is September 28, 2026. The company will use cash on hand to fund the transaction.
- Redemption Price: The price will be based on a "make-whole" provision, calculated as the greater of 100% of the principal amount or the sum of the present values of remaining payments, plus accrued and unpaid interest.