OREANDA-NEWS. November 20, 2014. Agrium Inc. (TSX and NYSE: AGU) agreed to issue and sell USD 500-million aggregate principal amount of 5.25 percent debentures due January 15, 2045. The debentures will be issued at a price of 99.491 percent of the aggregate principal amount.

The offering is expected to close on or about November 18, 2014, subject to customary closing conditions. The debentures, registered under the multi-jurisdictional disclosure system in Canada and the United States, will only be offered and sold in the United States.

Agrium intends to use the net proceeds from this offering to reduce short term debt and for general corporate purposes. The debentures will be unsecured and rank equally with Agrium's existing senior unsecured debt.

The joint book-running managers for the offering are Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBC Capital Markets, LLC and Scotia Capital (USA) Inc.

A preliminary prospectus supplement dated November 13, 2014, under Agrium's short form base shelf prospectus dated April 24, 2014 and under Agrium's related effective Registration Statement on Form F-10, in respect of the offering of the debentures has been filed with the Canadian securities regulatory authorities in each of the provinces of Canada and with the United States Securities and Exchange Commission under the multi-jurisdictional disclosure system. A final prospectus supplement in respect of the offering of the debentures will be filed with the same regulatory authorities in Canada and the United States.