Incitec Pivot Planning US Debt Non Deal Roadshow - Sources
19 Noviembre 2009 - 11:53PM
Noticias Dow Jones
Incitec Pivot Ltd. (IPL.AU), Australia's largest fertilizer
producer, is planning to meet debt investors in the U.S., market
participants said Friday.
The group is planning a non-deal roadshow, one person said, at
which companies typically meet investors to gauge appetite for a
possible follow-up issue of debt securities.
A company spokesman declined to comment on whether the group is
planning presentations in the U.S.
"Part of our strategy is to access global debt capital markets,
as for execution on that, we would never comment," the spokesman
said.
In October, the Melbourne based group attained a BBB long-term
and A-2 short-term corporate credit rating with a stable outlook
from ratings agency Standard & Poor's.
Beginning Monday, Incitec will begin a three day equity
presentation through Asia arranged by Macquarie Bank.
Incitec this week posted a full-year net loss of A$179.9
million, after an unexpected goodwill writedown of its Dyno Nobel
explosives business, compared with a net profit of A$604.6 million
a year earlier.
In 2008 Melbourne-based Incitec became the world's
second-largest explosive maker, after market leader Orica Ltd.,
with its A$2.3 billion acquisition of Dyno Nobel Ltd., the largest
explosives maker in the U.S.
-By Enda Curran, Dow Jones Newswires; 61-2-8272-4687; enda.curran@dowjones.com
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