Nufarm Australia to offer US$300M of notes in US for refinance

Nufarm Australia plans to raise US$300 million by selling senior unsecured notes to US institutions, using the funds to reduce indebtedness under an Australian revolving bank facility.

If the offer is successful, Nufarm would reduce the A$625 million facility by US$250 million, it said in a statement.

The agricultural chemicals manufacturer said it has been assigned a 'Ba2' credit rating with a stable outlook by Moody's Investors Service.

Nufarm, the parent of Nufarm Australia, is to release its results for the year ended Aug. 1 today.

Its shares last traded at A$5.85 on the ASX and have gained 41 percent this year.

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Fletcher Building Announces Director Appointment
Meridian issues new demand response exercise notice to NZAS
CRP - Chatham Closes Private Placement of Shares
General Finance - Olympic Term Deposit Promotion featuring a Special Bonus of 0.1%
July 22nd Morning Report
VCT - Operational performance for the year ended 30 June 2024
Challenge to banks the way to go
Bigger returns or lower risk?
NPH - Director Appointment
July 19th Morning Report