Latest news with #CompassMinerals
Business Wire
4 days ago
- Business
- Business Wire
Compass Minerals Announces Pricing of $650 Million Senior Notes due 2030 and Partial Redemption of Senior Notes due 2027
OVERLAND PARK, Kan.--(BUSINESS WIRE)--Compass Minerals International, Inc. (NYSE: CMP) ('Compass Minerals' or the 'Company') has priced an offering of $650 million aggregate principal amount of 8.000% senior notes due 2030 (the 'Notes') in a private offering. The sale of the Notes is expected to be completed on or about June 16, 2025, subject to customary closing conditions. The Notes will be senior unsecured obligations of Compass Minerals and will be guaranteed by certain of its domestic subsidiaries. Compass Minerals intends to use the net proceeds from this offering (i) to repay all outstanding amounts under its senior secured credit facility, (ii) to redeem $350 million of its outstanding 6.750% senior notes due 2027 (the '2027 Notes'), (iii) to pay transaction-related fees and expenses, (iv) for additional cash on its balance sheet and (v) for general corporate purposes. The Notes and related guarantees will not be registered under the Securities Act of 1933, as amended (the 'Securities Act'), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The Notes will be offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and to persons other than 'U.S. persons' in compliance with Regulation S under the Securities Act. In addition, as discussed above, Compass Minerals announced today that it will redeem $350 million aggregate principal amount of its 2027 Notes (the 'Redemption'). The redemption date for the 2027 Notes is June 17, 2025 (the 'Redemption Date'). The 2027 Notes will be redeemed on the Redemption Date at a redemption price equal to 101.125% of the principal amount being redeemed and any accrued and unpaid interest, if any, up to, but excluding, the Redemption Date, in accordance with the terms of the 2027 Notes and the applicable indenture governing such 2027 Notes. After the Redemption Date, interest on each 2027 Note to be redeemed will cease to accrue. Upon completion of the Redemption, $150 million aggregate principal amount of the 2027 Notes will remain outstanding. This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the Notes and related guarantees, nor will there be any sale of the Notes and related guarantees in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Any offer of the Notes and related guarantees will be made only by means of a private offering memorandum. A notice of redemption is being sent by the trustee for the 2027 Notes to all currently registered holders of such 2027 Notes. This press release does not constitute a notice of redemption under the indenture governing the 2027 Notes. About Compass Minerals Compass Minerals (NYSE: CMP) is a leading global provider of essential minerals focused on safely delivering where and when it matters to help solve nature's challenges for customers and communities. The Company's salt products help keep roadways safe during winter weather and are used in numerous other consumer, industrial, chemical and agricultural applications. Its plant nutrition products help improve the quality and yield of crops, while supporting sustainable agriculture. Compass Minerals operates 12 production and packaging facilities with nearly 1,800 employees throughout the U.S., Canada and the U.K. Forward-Looking Statements and Other Disclaimers This press release may contain forward-looking statements, including, without limitation, statements about the Company's intent to refinance its debt stack and retire debt. These statements are based on the Company's current expectations, estimates and projections and involve risks and uncertainties that could cause the Company's actual results to differ materially. The differences could be caused by several factors including those factors identified in the 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' sections of the Company's Annual and Quarterly Reports on Forms 10-K and 10-Q, including any amendments, as well as the Company's other SEC filings. Opinions expressed are current opinions as of the date hereof. Investors are cautioned not to place undue reliance on such forward-looking statements and should rely on their own assessment of an investment. The Company undertakes no obligation to update any forward-looking statements made in this press release to reflect future events or developments, except as required by law.
Yahoo
4 days ago
- Business
- Yahoo
Compass Minerals Announces Pricing of $650 Million Senior Notes due 2030 and Partial Redemption of Senior Notes due 2027
OVERLAND PARK, Kan., June 03, 2025--(BUSINESS WIRE)--Compass Minerals International, Inc. (NYSE: CMP) ("Compass Minerals" or the "Company") has priced an offering of $650 million aggregate principal amount of 8.000% senior notes due 2030 (the "Notes") in a private offering. The sale of the Notes is expected to be completed on or about June 16, 2025, subject to customary closing conditions. The Notes will be senior unsecured obligations of Compass Minerals and will be guaranteed by certain of its domestic subsidiaries. Compass Minerals intends to use the net proceeds from this offering (i) to repay all outstanding amounts under its senior secured credit facility, (ii) to redeem $350 million of its outstanding 6.750% senior notes due 2027 (the "2027 Notes"), (iii) to pay transaction-related fees and expenses, (iv) for additional cash on its balance sheet and (v) for general corporate purposes. The Notes and related guarantees will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The Notes will be offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and to persons other than "U.S. persons" in compliance with Regulation S under the Securities Act. In addition, as discussed above, Compass Minerals announced today that it will redeem $350 million aggregate principal amount of its 2027 Notes (the "Redemption"). The redemption date for the 2027 Notes is June 17, 2025 (the "Redemption Date"). The 2027 Notes will be redeemed on the Redemption Date at a redemption price equal to 101.125% of the principal amount being redeemed and any accrued and unpaid interest, if any, up to, but excluding, the Redemption Date, in accordance with the terms of the 2027 Notes and the applicable indenture governing such 2027 Notes. After the Redemption Date, interest on each 2027 Note to be redeemed will cease to accrue. Upon completion of the Redemption, $150 million aggregate principal amount of the 2027 Notes will remain outstanding. This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the Notes and related guarantees, nor will there be any sale of the Notes and related guarantees in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Any offer of the Notes and related guarantees will be made only by means of a private offering memorandum. A notice of redemption is being sent by the trustee for the 2027 Notes to all currently registered holders of such 2027 Notes. This press release does not constitute a notice of redemption under the indenture governing the 2027 Notes. About Compass Minerals Compass Minerals (NYSE: CMP) is a leading global provider of essential minerals focused on safely delivering where and when it matters to help solve nature's challenges for customers and communities. The Company's salt products help keep roadways safe during winter weather and are used in numerous other consumer, industrial, chemical and agricultural applications. Its plant nutrition products help improve the quality and yield of crops, while supporting sustainable agriculture. Compass Minerals operates 12 production and packaging facilities with nearly 1,800 employees throughout the U.S., Canada and the U.K. Forward-Looking Statements and Other Disclaimers This press release may contain forward-looking statements, including, without limitation, statements about the Company's intent to refinance its debt stack and retire debt. These statements are based on the Company's current expectations, estimates and projections and involve risks and uncertainties that could cause the Company's actual results to differ materially. The differences could be caused by several factors including those factors identified in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's Annual and Quarterly Reports on Forms 10-K and 10-Q, including any amendments, as well as the Company's other SEC filings. Opinions expressed are current opinions as of the date hereof. Investors are cautioned not to place undue reliance on such forward-looking statements and should rely on their own assessment of an investment. The Company undertakes no obligation to update any forward-looking statements made in this press release to reflect future events or developments, except as required by law. View source version on Contacts Investor Contact Brent CollinsVice President, Treasurer & Investor Relations+1.913.344.9111InvestorRelations@ Media Contact Kevin GabrielSenior Director, Corporate Affairs+1.913.344.9265MediaRelations@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
National Post
4 days ago
- Business
- National Post
Compass Minerals Announces Pricing of $650 Million Senior Notes due 2030 and Partial Redemption of Senior Notes due 2027
Article content OVERLAND PARK, Kan. — Compass Minerals International, Inc. (NYSE: CMP) ('Compass Minerals' or the 'Company') has priced an offering of $650 million aggregate principal amount of 8.000% senior notes due 2030 (the 'Notes') in a private offering. The sale of the Notes is expected to be completed on or about June 16, 2025, subject to customary closing conditions. The Notes will be senior unsecured obligations of Compass Minerals and will be guaranteed by certain of its domestic subsidiaries. Article content Compass Minerals intends to use the net proceeds from this offering (i) to repay all outstanding amounts under its senior secured credit facility, (ii) to redeem $350 million of its outstanding 6.750% senior notes due 2027 (the '2027 Notes'), (iii) to pay transaction-related fees and expenses, (iv) for additional cash on its balance sheet and (v) for general corporate purposes. Article content The Notes and related guarantees will not be registered under the Securities Act of 1933, as amended (the 'Securities Act'), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The Notes will be offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and to persons other than 'U.S. persons' in compliance with Regulation S under the Securities Act. Article content In addition, as discussed above, Compass Minerals announced today that it will redeem $350 million aggregate principal amount of its 2027 Notes (the 'Redemption'). Article content The redemption date for the 2027 Notes is June 17, 2025 (the 'Redemption Date'). The 2027 Notes will be redeemed on the Redemption Date at a redemption price equal to 101.125% of the principal amount being redeemed and any accrued and unpaid interest, if any, up to, but excluding, the Redemption Date, in accordance with the terms of the 2027 Notes and the applicable indenture governing such 2027 Notes. After the Redemption Date, interest on each 2027 Note to be redeemed will cease to accrue. Upon completion of the Redemption, $150 million aggregate principal amount of the 2027 Notes will remain outstanding. Article content This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the Notes and related guarantees, nor will there be any sale of the Notes and related guarantees in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Any offer of the Notes and related guarantees will be made only by means of a private offering memorandum. Article content A notice of redemption is being sent by the trustee for the 2027 Notes to all currently registered holders of such 2027 Notes. This press release does not constitute a notice of redemption under the indenture governing the 2027 Notes. Article content About Compass Minerals Article content Compass Minerals (NYSE: CMP) is a leading global provider of essential minerals focused on safely delivering where and when it matters to help solve nature's challenges for customers and communities. The Company's salt products help keep roadways safe during winter weather and are used in numerous other consumer, industrial, chemical and agricultural applications. Its plant nutrition products help improve the quality and yield of crops, while supporting sustainable agriculture. Compass Minerals operates 12 production and packaging facilities with nearly 1,800 employees throughout the U.S., Canada and the U.K. Article content This press release may contain forward-looking statements, including, without limitation, statements about the Company's intent to refinance its debt stack and retire debt. These statements are based on the Company's current expectations, estimates and projections and involve risks and uncertainties that could cause the Company's actual results to differ materially. The differences could be caused by several factors including those factors identified in the 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' sections of the Company's Annual and Quarterly Reports on Forms 10-K and 10-Q, including any amendments, as well as the Company's other SEC filings. Opinions expressed are current opinions as of the date hereof. Investors are cautioned not to place undue reliance on such forward-looking statements and should rely on their own assessment of an investment. The Company undertakes no obligation to update any forward-looking statements made in this press release to reflect future events or developments, except as required by law. Article content Article content Article content Article content Contacts Article content Investor Contact Article content Article content Brent Collins Article content Article content +1.913.344.9111 Article content Article content InvestorRelations@ Article content Article content
Yahoo
20-05-2025
- Business
- Yahoo
Is Barrick Mining Corporation (B) Stock Outpacing Its Basic Materials Peers This Year?
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Barrick Gold (B) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Basic Materials peers, we might be able to answer that question. Barrick Gold is one of 232 individual stocks in the Basic Materials sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups. The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Barrick Gold is currently sporting a Zacks Rank of #1 (Strong Buy). Over the past three months, the Zacks Consensus Estimate for B's full-year earnings has moved 15.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive. Based on the most recent data, B has returned 17.4% so far this year. In comparison, Basic Materials companies have returned an average of 6.4%. This means that Barrick Gold is performing better than its sector in terms of year-to-date returns. Another stock in the Basic Materials sector, Compass Minerals (CMP), has outperformed the sector so far this year. The stock's year-to-date return is 71.1%. In Compass Minerals' case, the consensus EPS estimate for the current year increased 28.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy). Breaking things down more, Barrick Gold is a member of the Mining - Gold industry, which includes 39 individual companies and currently sits at #13 in the Zacks Industry Rank. On average, stocks in this group have gained 39.1% this year, meaning that B is slightly underperforming its industry in terms of year-to-date returns. Compass Minerals, however, belongs to the Chemical - Diversified industry. Currently, this 28-stock industry is ranked #202. The industry has moved -14.6% so far this year. Barrick Gold and Compass Minerals could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Barrick Mining Corporation (B) : Free Stock Analysis Report Compass Minerals International, Inc. (CMP) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Washington Post
07-05-2025
- Business
- Washington Post
Compass: Fiscal Q2 Earnings Snapshot
OVERLAND PARK, Kan. — OVERLAND PARK, Kan. — Compass Minerals International Inc. (CMP) on Wednesday reported a loss of $32 million in its fiscal second quarter. The Overland Park, Kansas-based company said it had a loss of 77 cents per share. Earnings, adjusted for one-time gains and costs, came to 63 cents per share.
