Agrium Inc. to Offer U.S. $175 Million of Canadian Originated Preferred Securities.CALGARY, Alberta--(BUSINESS WIRE)--April 8, 1998--Agrium (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :AGU AGU Aoyama Gakuin University, Tokyo, Japan AGU American Geophysical Union AGU Arabian Gulf University (Bahrain) AGU All Grown Up (TV show) AGU Aguascalientes, Aguascalientes, Mexico .)(NYSE NYSE See: New York Stock Exchange :AGU) ALL AMOUNTS ARE STATED IN US$ Agrium Inc. (TSE and NYSE: AGU) today announced that it has filed a preliminary prospectus Preliminary Prospectus A first draft registration statement filed by a firm prior to proceeding with an initial public offering of securities. The document, filed with the Securities & Exchange Commission, is intended to provide pertinent information to prospective shareholders and registration statement for U.S. offering of $175 million of Canadian Originated Preferred Securities (COPrS) which represent junior subordinated debentures with a term of 49 years. Final terms of the offerings, including the pricing and interest rate, will be set on the filing of the final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. . Management of the Company stated that it intends to use the net proceeds from this offering to fund the expanded share buy back program announced separately today and, to the extent of any balance, for general corporate purposes. The offering is being underwritten by a syndicate managed by Merrill Lynch & Co. and includes Paine Webber Incorporated and Salomon Smith Barney. "These securities represent an attractive and cost efficient form of financing which will reduce the Company's cost of capital" said John M. Van Brunt, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such solicitation or sale would be unlawful prior to registration under the securities laws of such State. Agrium Inc. is a major international producer and marketer of fertilizers to the agricultural industry. The Company manufactures the four primary nutrients: nitrogen, phosphorous phos·pho·rous adj. Of, relating to, or containing phosphorus, especially with a valence of 3 or a valence lower than that of a comparable phosphoric compound. , potassium and sulfur and sells directly to the marketplace through a direct retail distribution operation. The Company's strategy is to grow through expansion of its existing operations and international opportunities as well as the development and commercialization of new products and services. CONTACT: Agrium Inc. Ian Chadsey, Investor/Media Relations 403/258-4694 investor@agrium.com http://www.agrium.com |
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