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Published on 11/19/2004 in the Prospect News High Yield Daily.

Mosaic Global tenders for IMC Global notes

New York, Nov. 19 - Mosaic Global Holdings Inc. - the former IMC Global Inc. - said it has begun a cash tender offer for all the 10 7/8% senior notes due 2008, 10 7/8% senior notes due 2013 and 11¼% senior notes due 2011 originally issued by IMC Global.

The offer is required under the change-of-control provisions of the notes.

The Lake Forest, Ill., producer of crop nutrients and animal feeds is offering to pay 101% of par plus accrued interest for the securities.

The offer runs through 5 p.m. ET on Jan. 5.


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