trending Market Intelligence /marketintelligence/en/news-insights/trending/68VxYqp4LiNcrCoYl1eZnA2 content esgSubNav
In This List

Compass Minerals closes US$450M loan for purchase of plant nutrition company

Blog

Infographic: The Big Picture 2024 – Energy Transition Outlook

Case Study

An Oil and Gas Company's Roadmap for Strategic Insights in a Quickly Evolving Regulatory Landscape

Blog

Essential IR Insights Newsletter Fall - 2023

Video

Battery metals - unbated long term need for supply security despite short-term headwinds


Compass Minerals closes US$450M loan for purchase of plant nutrition company

Compass Minerals International Inc. said Sept. 28 that it issued a new US$450 million senior secured term loan, which matures July 1, 2021, and carries an interest rate of LIBOR plus 2%.

Proceeds are earmarked to purchase the remaining 65% stake in Produquímica Indústria e Comércio SA and to retire a portion of the debt Compass Minerals expects to assume from Produquímica at closing.

Compass expects to pay between US$310 million and US$330 million to fully acquire Produquímica and will assume about US$150 million of the specialty plant nutrition company's long-term debt.