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IMC FERTILIZER ENTERS AGREEMENT TO PURCHASE $220 MILLION OF 11.25 PERCENT NOTES FROM PRUDENTIAL

 NORTHBROOK, Ill., Sept. 7 /PRNewswire/ -- IMC Fertilizer Group, Inc. (NYSE: IFL) announced today it has entered into an agreement with The Prudential Insurance Company of America, giving it the right to purchase the $220 million of the 11.25 percent notes of IMC Fertilizer, Inc., the company's principal subsidiary, for approximately $250 million. The notes were originally scheduled to be due in annual installments from 1995 to 2004.
 The purchase is expected to be completed prior to Nov. 1, 1993. The company intends to refinance the notes by issuing new debt and/or equity or equity-related securities of the company.
 "Our objective is to increase the company's financial flexibility by refinancing this subsidiary debt with new parent company securities," said Wendell F. Bueche, the company's president and chief executive officer. "In addition, we should realize economic benefits due to the more favorable environment of current financial markets."
 -0- 9/7/93
 /CONTACT: Thomas C. Pasztor, 708-205-4801, or (investors) John E. Galvin, 708-205-4814, both of IMC Fertilizer Group/
 (IFL)


CO: IMC Fertilizer Group, Inc. ST: Illinois IN: CHM SU: TNM

TS-PS -- NY030 -- 9255 09/07/93 10:25 EDT
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Publication:PR Newswire
Date:Sep 7, 1993
Words:188
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