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Prospect News home > News index > List of issuers T > Headlines for Tenders 2004 > News item |
Terra Industries to redeem up to 35% of 11½% notes with proceeds from $75 million convertible
Pittsburgh, Oct. 7 - Terra Industries Inc. will use proceeds from its offering of $75 million of series A cumulative convertible perpetual shares to redeem up to 35% of its existing 11½% second-priority senior secured notes due 2010, according to a company news release.
The proceeds will also be used for general corporate purposes, the release said.
Terra Industries is a Sioux City, Iowa-based producer of nitrogen products.
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