Exhibit 99.1
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NYSE, TSX: NTR | | News Release |
May 11, 2020
Nutrien Prices Offering of an Aggregate of US$1.5 Billion of3-Year,10-Year and30-Year Senior Notes
Saskatoon, Saskatchewan – Nutrien Ltd. (NYSE, TSX: NTR) today announced the pricing of US$500 million aggregate principal amount of 1.900 percent senior notes due May 13, 2023, US$500 million aggregate principal amount of 2.950 percent senior notes due May 13, 2030 and US$500 million aggregate principal amount of 3.950 percent senior notes due May 13, 2050 (together, the “senior notes”). The offering is expected to close on or about May 13, 2020, subject to customary closing conditions. The senior notes, registered under the multi-jurisdictional disclosure system in Canada and the United States, will not be offered in Canada or to any resident of Canada.
Nutrien intends to use the net proceeds from this offering to reduce its short-term indebtedness, for general corporate purposes, to finance its capital expenditures and to fund recent growth initiatives. The senior notes will be unsecured and rank equally with Nutrien’s existing senior unsecured debt. The joint book-running managers for the offering are Barclays Capital Inc., CIBC World Markets Corp., Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and TD Securities (USA) LLC.
The offering will be made by way of a prospectus supplement dated May 11, 2020, to Nutrien’s short form base shelf prospectus dated March 16, 2020, filed with the securities regulatory authorities in each of the provinces of Canada, which forms a part of and is included in Nutrien’s registration statement on FormF-10, filed in the United States with the Securities and Exchange Commission (the “SEC”) under the multijurisdictional disclosure system. A final prospectus supplement in respect of the offering of the senior notes will be filed with the same regulatory authorities in Canada and the SEC.
About Nutrien
Nutrien is the world’s largest provider of crop inputs and services, playing a critical role in helping growers increase food production in a sustainable manner. We produce and distribute 25 million tonnes of potash, nitrogen and phosphate products world-wide. With this capability and our leading agriculture retail network, we are well positioned to supply the needs of our customers. We operate with a long-term view and are committed to working with our stakeholders as we address our economic, environmental and social priorities. The scale and diversity of our integrated portfolio provides a stable earnings base, multiple avenues for growth and the opportunity to return capital to shareholders.
Advisory
The senior notes are being offered in the United States pursuant to an effective registration statement (including a base shelf prospectus) filed with the SEC. Nutrien has filed a preliminary prospectus supplement related to the offering of the senior notes. Before you invest, you should read the preliminary prospectus supplement, the accompanying base shelf prospectus and other documents that are incorporated by reference therein for more complete information about Nutrien and this offering.
The preliminary prospectus supplement and the accompanying base shelf prospectus are available for free on the SEC website at www.sec.gov. Alternatively, the documents may be obtained by contacting Barclays Capital Inc. toll free at 1 (888)603-5847, CIBC World Markets Corp. toll free at 1 (800)282-0822, Citigroup Global Markets Inc. toll free at 1 (800)831-9146, HSBC Securities (USA) Inc. toll-free at 1 (866)811-8049 or TD Securities USA LLC toll-free at 1 (855)495-9846.
