Nufarm Limited
(ASX:NUF) says it has priced $US325 million of unsecured notes in the United States to pay down existing debt.
The agricultural chemicals manufacturer says the senior unsecured notes offering was boosted by $US25 million because of strong demand.
After the sale Nufarm expects $US250 million of commitments under its revolving bank facility to be cancelled.
Nufarm says the notes, its Australian bank facilities and trade receivable securitisation facility reflects its strategy of diversifing funding sources and extending debt maturities.
Nufarm rebounded to a net profit of $72.8 million in the 2012 financial year from a loss of $49.5 million the year before.
