Terra Nitrogen gets facility waiver for change-of-control default

By Sara Rosenberg

New York, July 1 - Terra Nitrogen Co. LP received a waiver under its $50 million revolving credit facility of the change-of-control event of default until Sept. 28, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

The default resulted from the completion of the acquisition of Terra Industries Inc. by CF Industries Holdings Inc.

Citicorp is the administrative agent on the deal.

The waiver was obtained on June 30.

Terra Nitrogen is a Deerfield, Ill.-based manufacturer of nitrogen fertilizer products.

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