Nufarm seeks $210 million

Nufarm says the $210 million of notes are unsecured, subordinated, fixed interest debt securities of Fernz Corporation and carry a limited guarantee from Nufarm. They are being offered in Australia and New Zealand.

Interest on the capital notes will be paid at the greater of either 8.5 % per annum, or the 5-year swap rate plus 1.85% per annum, or any higher rate that Fernz sets no later than one business day after the offer closes. Interest will be denominated and payable in New Zealand dollars.

$170 million of the issue is being reserved for existing Fernz capital notes holders who wish to exchange existing notes, issued in 1996, for new capital notes.

Nufarm shareholders will be given a preferential opportunity to subscribe for any of the reserved $170 million not taken by holders of existing Fernz capital notes.

Proceeds will be used to refinance the existing capital notes and to provide additional working capital for the Nufarm group.

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:

Nufarm expects court sign-off on A$46.6M class action tomorrow
Nufarm expects flat first-half profit but better full-year result
Ciao NUF and PDL