Nutrien (NTR) Prices $1 Billion of 3-Year & 10-Year Senior Notes

18.06.24 15:01 Uhr

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Nutrien Ltd. NTR declared the pricing of $600 million of 5.400% senior notes due Jun 21, 2034, and $400 million of 5.200% senior notes due Jun 21, 2027. The offering is anticipated to conclude, subject to normal closing conditions, on or around Jun 21, 2024. The senior notes, which are registered under both the U.S. and Canadian multi-jurisdictional disclosure systems, will not be made available for offering in Canada or to Canadian residents.The net proceeds from this offering will be used by Nutrien to repay its $500 million aggregate principal amount of the 5.900% senior notes on their maturity on Nov 7, 2024, working capital financing and  reduce its outstanding indebtedness under its short-term credit facilities, apart from other general corporate purposes.The senior notes will be unsecured and will rank on an equal footing with the current senior unsecured debt of Nutrien. CIBC World Markets Corp., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and RBC Capital Markets, LLC are the joint book-running managers for the offering.The offering will take the form of a prospectus supplement dated Jun 17, 2024, to Nutrien's short form base shelf prospectus dated Mar 22, 2024, which was filed under the multijurisdictional disclosure system with the Securities and Exchange Commission (“SEC”) in the United States and the securities regulatory authorities in each province of Canada. Regarding the senior notes offering, a final prospectus supplement will be submitted to the SEC and the concerned Canadian regulatory bodies.Shares of Nutrien have lost 15.6% over the past year compared with its industry’s 20% decline.Image Source: Zacks Investment ResearchThe company, on its first-quarter call, said that it expects retail adjusted EBITDA to be between $1.65 billion and $1.85 billion, reflecting its forecast for increased crop nutrient sales volumes and profit margins in its North American operations during the first half of 2024, as well as improved crop input margins in Brazil during the second half of the year. This guidance also incorporated a full year of earnings from the company's Retail assets in Argentina, Chile and Uruguay.For potash, the company's sales volume guidance, estimated between 13 and 13.8 million tons, assumes a more balanced distribution of volumes between the first and second halves compared with the prior year. The nitrogen sales volume guidance, ranging from 10.6 to 11.2 million tons, is based on higher operating rates at the company's North American and Trinidad plants, along with increased sales of upgraded products like urea and nitrogen solutions. Phosphate sales volume guidance, which is in the range of 2.6-2.8 million tons, anticipates higher operating rates compared with the 2023 tally.Nutrien Ltd. Price and Consensus Nutrien Ltd. price-consensus-chart | Nutrien Ltd. QuoteZacks Rank & Key PicksNutrien currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the basic materials space are ATI Inc. ATI, Carpenter Technology Corporation CRS and Ecolab Inc. ECL. ATI currently carries a Zacks Rank #2 (Buy). ATI beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 8.3%. The company’s shares have gained 39.7% in the past year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Carpenter Technology currently sports a Zacks Rank of 1. CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.1%. The company’s shares have gained 95.3% in the past year.The Zacks Consensus Estimate for Ecolab's current-year earnings is pegged at $6.59 per share, indicating a year-over-year rise of 26.5%. The consensus estimate for ECL’s current-year earnings has gone up in the past 30 days. ECL, which currently carries a Zacks Rank of 2, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 1.3%. The company’s shares have gained roughly 33.6% in the past year.Where Will Stocks Go…If Biden Wins? If Trump Wins?The answers may surprise you.Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…1. Medical manufacturer has gained +11,000% in the last 15 years.2. Rental company is absolutely crushing its sector.3. Energy powerhouse plans to grow its already large dividend by 25%.4. Aerospace and defense standout just landed a potentially $80 billion contract.5. Giant Chipmaker is building huge plants in the U.S. Hurry, Download Special Report FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ecolab Inc. (ECL): Free Stock Analysis Report ATI Inc. (ATI): Free Stock Analysis Report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Nutrien Ltd. (NTR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks

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Nachrichten zu Nutrien (Ex Potash Agrium)

Analysen zu Nutrien (Ex Potash Agrium)

DatumRatingAnalyst
18.07.2024Nutrien (Ex Potash Agrium) BuyJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
15.07.2024Nutrien (Ex Potash Agrium) BuyUBS AG
15.07.2024Nutrien (Ex Potash Agrium) OutperformRBC Capital Markets
24.06.2024Nutrien (Ex Potash Agrium) OutperformRBC Capital Markets
13.06.2024Nutrien (Ex Potash Agrium) BuyGoldman Sachs Group Inc.
DatumRatingAnalyst
18.07.2024Nutrien (Ex Potash Agrium) BuyJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
15.07.2024Nutrien (Ex Potash Agrium) BuyUBS AG
15.07.2024Nutrien (Ex Potash Agrium) OutperformRBC Capital Markets
24.06.2024Nutrien (Ex Potash Agrium) OutperformRBC Capital Markets
13.06.2024Nutrien (Ex Potash Agrium) BuyGoldman Sachs Group Inc.
DatumRatingAnalyst
08.02.2024Nutrien (Ex Potash Agrium) HoldJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
24.01.2024Nutrien (Ex Potash Agrium) HoldJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
06.11.2023Nutrien (Ex Potash Agrium) NeutralJP Morgan Chase & Co.
07.09.2023Nutrien (Ex Potash Agrium) HoldJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
17.05.2023Nutrien (Ex Potash Agrium) HoldJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
DatumRatingAnalyst
23.02.2024Nutrien (Ex Potash Agrium) UnderweightJP Morgan Chase & Co.
07.07.2023Nutrien (Ex Potash Agrium) UnderperformCredit Suisse Group
16.02.2023Nutrien (Ex Potash Agrium) UnderperformCredit Suisse Group
09.01.2023Nutrien (Ex Potash Agrium) UnderperformCredit Suisse Group
14.07.2022Nutrien (Ex Potash Agrium) UnderperformCredit Suisse Group

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