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Compass Minerals Announces Pricing of $650 Million Senior Notes due 2030 and Partial Redemption of Senior Notes due 2027
Compass Minerals International, Inc. (NYSE: CMP) (“Compass Minerals” or the “...
About this update from Cmp Mining, Inc.
[{"type":"text","content":"Compass Minerals Announces Pricing of $650 Million Senior Notes due 2030 and Partial Redemption of Senior Notes due 2027\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }\n \n\n\n\n Compass Minerals International, Inc. (NYSE: CMP) (“Compass Minerals” or the “Company”) has priced an offering of $650 million aggregate principal amount of 8.000% senior notes due 2030 (the “Notes”) in a private offering. The sale of the Notes is expected to be completed on or about June 16, 2025, subject to customary closing conditions. The Notes will be senior unsecured obligations of Compass Minerals and will be guaranteed by certain of its domestic subsidiaries.\n \n\n Compass Minerals intends to use the net proceeds from this offering (i) to repay all outstanding amounts under its senior secured credit facility, (ii) to redeem $350 million of its outstanding 6.750% senior notes due 2027 (the “2027 Notes”), (iii) to pay transaction-related fees and expenses, (iv) for additional cash on its balance sheet and (v) for general corporate purposes.\n \n\n The Notes and related guarantees will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The Notes will be offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act.\n \n\n In addition, as discussed above, Compass Minerals announced today that it will redeem $350 million aggregate principal amount of its 2027 Notes (the “Redemption”).\n \n\n The redemption date for the 2027 Notes is June 17, 2025 (the “Redemption Date”). The 2027 Notes will be redeemed on the Redemption Date at a redemption price equal to 101.125% of the principal amount being redeemed and any accrued and unpaid interest, if any, up to, but excluding, the Redemption Date, in accordance with the terms of the 2027 Notes and the ...