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CF Industries Holdings, Inc. (CF - Free Report) declared that its fully-owned subsidiary CF Industries, Inc. plans to offer $1.25 billion aggregate principal amount of senior secured notes, subject to market and other conditions. The notes will be guaranteed on a senior secured basis, jointly and severally, by CF Industries and some of its domestic subsidiaries that will guarantee obligations under CF Industries’ revolving credit facility.
CF Industries plans to utilize the net proceeds from the offering, along with cash on hand and/or borrowings under its revolving credit facility, to prepay the $1 billion principal amount of its senior notes due 2022, 2025 and 2027 and to pay the associated make-whole amount and related fees and expenses. The company plans to utilize the proceeds for general corporate purposes in case there is an amount which is in excess of amount required for the senior notes prepayment, including the make-whole amount, and related fees and expenses.
The notes have not been registered under the Securities Act of 1933, as amended, or any state securities laws and, unless so registered, may not be offered or sold in the U.S.
CF Industries recently posted a loss of $30 million or 13 cents per share for the third quarter of 2016, as against a profit of $90 million or 39 cents per share recorded a year ago.
Barring one-time items, earnings were 13 cents per share for the quarter, down from 54 cents per share recorded a year ago. However, the figure beat the Zacks Consensus Estimate of 5 cents.
Sales declined roughly 26.7% year over year to $680 million in the quarter, and missed the Zacks Consensus Estimate of $780 million. Sales declined in the quarter due to reduced average selling prices across all segments.
Zacks Rank
CF Industries currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked companies in the basic materials space include Innophos Holdings Inc , Koppers Holdings Inc. (KOP - Free Report) and Celanese Corporation (CE - Free Report) .
Innophos holds a Zacks Rank #1 (Strong Buy). The company has an expected earnings growth of 51.4% for the current year.
Celanese carries a Zacks Rank #2 (Buy) and has an expected earnings growth of around 9.4% for the current year.
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CF Industries Declares $1.25B Senior Secured Notes Offering
CF Industries Holdings, Inc. (CF - Free Report) declared that its fully-owned subsidiary CF Industries, Inc. plans to offer $1.25 billion aggregate principal amount of senior secured notes, subject to market and other conditions. The notes will be guaranteed on a senior secured basis, jointly and severally, by CF Industries and some of its domestic subsidiaries that will guarantee obligations under CF Industries’ revolving credit facility.
CF Industries plans to utilize the net proceeds from the offering, along with cash on hand and/or borrowings under its revolving credit facility, to prepay the $1 billion principal amount of its senior notes due 2022, 2025 and 2027 and to pay the associated make-whole amount and related fees and expenses. The company plans to utilize the proceeds for general corporate purposes in case there is an amount which is in excess of amount required for the senior notes prepayment, including the make-whole amount, and related fees and expenses.
The notes have not been registered under the Securities Act of 1933, as amended, or any state securities laws and, unless so registered, may not be offered or sold in the U.S.
CF INDUS HLDGS Price
CF INDUS HLDGS Price | CF INDUS HLDGS Quote
CF Industries recently posted a loss of $30 million or 13 cents per share for the third quarter of 2016, as against a profit of $90 million or 39 cents per share recorded a year ago.
Barring one-time items, earnings were 13 cents per share for the quarter, down from 54 cents per share recorded a year ago. However, the figure beat the Zacks Consensus Estimate of 5 cents.
Sales declined roughly 26.7% year over year to $680 million in the quarter, and missed the Zacks Consensus Estimate of $780 million. Sales declined in the quarter due to reduced average selling prices across all segments.
Zacks Rank
CF Industries currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked companies in the basic materials space include Innophos Holdings Inc , Koppers Holdings Inc. (KOP - Free Report) and Celanese Corporation (CE - Free Report) .
Innophos holds a Zacks Rank #1 (Strong Buy). The company has an expected earnings growth of 51.4% for the current year.
Koppers has an expected earnings growth of around 62.3% for the current year. The stock carries a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Celanese carries a Zacks Rank #2 (Buy) and has an expected earnings growth of around 9.4% for the current year.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>