Israel Chemicals to pay down revolver debt with new notes proceeds

By Toni Weeks

San Luis Obispo, Calif., Nov. 20 – Israel Chemicals Ltd. plans to use the proceeds from a new offering of 10-year senior unsecured notes to repay some short-term loans and debt under its outstanding revolving credit facilities, according to an 8-K filing with the Securities and Exchange Commission.

The repayment will provide the company with flexibility for future borrowings under its revolving credit facilities, which may be used for general corporate purposes, potential acquisitions and refinancing existing debt.

Tel Aviv-based Israel Chemicals is a fertilizer and specialty chemicals company.

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