SIOUX CITY, Iowa, Sept. 26 /PRNewswire/ -- Terra Capital, Inc., a
subsidiary of Terra Industries Inc. (NYSE: TRA), intends to issue $200 million
of seven-year senior secured notes due in 2008. Concurrently with this
offering, Terra Capital will also enter into a $175 million amended and
restated senior secured revolving credit facility maturing in 2005. The
Company intends to use the proceeds of the offering together with drawings
under its new proposed credit facility to repay existing debt, including the
10.75% senior notes due 2003.
Terra Industries Inc., with 2000 revenues of $1 billion, is a leading
international producer of nitrogen products and methanol.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the senior secured notes or any other
securities, nor will there be any sale of the senior secured notes or any
other securities in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws
of any such state. The senior secured notes will be issued in reliance on the
exemption from the registration requirements provided by Rule 144A. None of
the senior secured notes have been registered under the Securities Act of
1933, as amended (the "Securities Act"), and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements of the Securities Act and applicable state
securities laws.
This press release may contain forward-looking statements, which involve
inherent risks and uncertainties. Statements that are not historical facts,
including statements about Terra's beliefs, plans or expectations, are
forward-looking statements. These statements are based on current plans,
estimates and expectations. Actual results may differ materially from those
projected in such forward-looking statements and therefore you should not
place undue reliance on them. A non-exclusive list of the important factors
that could cause actual results to differ materially from those in such
forward-looking statements is set forth in Terra's most recent report on Form
10-K and Terra's other documents on file with the Securities and Exchange
Commission. Terra undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information, future
developments or otherwise.
Note: Terra Industries' news announcements are also available on its web
site, http://www.terraindustries.com , and by fax at no charge by calling
800-758-5804, code 437906.
SOURCE Terra Industries Inc.
 back to top
Related links:
http://www.terraindustries.com
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/437906.html
CONTACT:
Mark Rosenbury of Terra Industries Inc.,
+1-712-279-8756
|
