IPL 5.29% $2.19 incitec pivot limited

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  1. 75 Posts.
    Incitec Pivot plans $500 mln 10-year 144a bond

    03 Dec 2009 - 10:18

    SYDNEY, Dec 3 (Reuters) -Incitec Pivot Ltd ,
    Australia's top fertiliser maker, plans to sell this week US$500
    million of 10-year bonds in the United States, it said on
    The 144a reg S issue includes investor protection in case of
    a change of control, whereby bond holders could sell the bonds
    back to the borrower should the ratings fall below investment
    grade, a source who has seen the terms said.
    Incitec is rated BBB by S&P and Fitch, and Baa3 by Moody's.
    Proceeds will be used to refinance debt, Incitec said.
    Joint leads Bank of America-Merrill Lynch, Citi and Royal
    Bank of Scotland declined or were not available to comment.

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