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Iowa Fertilizer Co. Issues $1.2 Billion of Bonds

Iowa Fertilizer Co. Issues $1.2 Billion of Bonds 
AMSTERDAM, THE NETHERLANDS -- (Marketwired) -- 05/02/13 --  *T 
Amsterdam, the Netherlands / 1 May, 2013 11:30 PM 
Iowa Fertilizer Company LLC Issues $1.2 Billion of Bonds in the US
Tax-Exempt Market 
Iowa Fertilizer Company LLC (Iowa Fertilizer), a wholly owned
subsidiary of OCI N.V., announced today that it has issued
approximately US$ 1.2 billion of bonds to institutional and retail
investors in the US tax-exempt market through the Iowa Finance
Authority. 
The bond proceeds will be used to finance the cost to develop and
construct a new US$ 1.8 billion greenfield nitrogen-based fertilizer
complex in Wever, Iowa, representing the largest investment in Iowa's
history. The facility is the first world-scale nitrogen fertilizer
facility to be constructed in the United States in more than 20 years
and will produce up to 2.0 million metric tons of urea ammonium nitrate
(UAN), urea, ammonia and diesel exhaust fluid (DEF) annually upon
completion. The plant is expected to begin production during Q4
2015. 
The bond issuance transaction is rated BB- by both Standard & Poor's (S&P)
and Fitch and represents the largest non-investment grade
transaction ever sold in the US tax-exempt market. This successful
transaction was well-received in the market with US$ 3.5 billion of
orders from more than 75 major institutional investors. Many of the
largest fixed income money managers in the world participated in the
transaction, including tax-exempt mutual funds, insurance companies and
hedge funds. 
Given the strong market reception, the interest rate was reduced by up
to 10 basis points, resulting in an average interest rate on the bonds
of 5.12%. The structure of the transaction was the following: 
- US$ 390 million term bonds maturing in 12/01/2019 yielding 4.8% 
- US$ 366 million term bonds maturing in 12/01/2022 yielding 5.1% 
- US$ 429 million term bonds maturing in 12/01/2025 yielding 5.3% 
OCI N.V. Chief Executive Officer Nassef Sawiris commented, "We are
pleased with the market's reception for the bonds as evidenced by the
strong orders from global fixed-income money managers. The bond's
over-subscription is further affirmation of the Iowa Fertilizer
long-term value proposition, utilizing low cost natural ga
s to develop
fertilizer and DEF production in the heart of the US Corn Belt. The
bond execution represents a major milestone for Iowa Fertilizer and we
look forward to working closely with all parties involved on the
project to commence production in late 2015." 
The transaction was underwritten by Citigroup Global Markets as senior
manager and Bank of America Merrill Lynch as co-manager. Citigroup
Global Markets also acted as the transaction bookrunner. 
Peter Bartlett, Managing Director of Citigroup Global Markets Inc.
stated, "Citi is proud to have led the largest high yield deal in the
history of the municipal market. In conjunction with OCI's senior
management, Citi completed a comprehensive marketing campaign resulting
in broad interest from more than 75 institutional purchasers. We
believe that this transaction is an outstanding success for OCI, Citi's
institutional clients, and the citizens of Iowa. This US$ 1.8 billion
investment will benefit all of Iowa through job creation and a local
source of fertilizer." 
About OCI N.V.: 
OCI N.V. is a global nitrogen-based fertilizer producer and engineering&
construction contractor based in the Netherlands. The Fertilizer
Group owns and operates nitrogen fertilizer plants in the Netherlands,
the United States, Egypt and Algeria and has an international
distribution platform spanning from the Americas to Asia. The
Fertilizer Group ranks among the world's top fertilizer producers with
a fertilizer production capacity of nearly 7 million metric tons. The
Construction Group provides international engineering and construction
services primarily on infrastructure, industrial and high-end
commercial projects in the United States, Europe, the Middle East,
North Africa and Central Asia for public and private clients. The
Construction Group ranks among the world's top global contractors. OCI
N.V. employs more than 90,000 people in 35 countries around the globe
and is listed on the NYSE Euronext in Amsterdam.
For additional information
contact: 
For additional information on OCI:
OCI Investor Relations
Department:                   www.orascomci.com
Omar Darwazah                 OCI stock symbols: OCIC.CA / OCIC EY /
Email:                        OCICqL / ORSD / ORSCY
omar.darwazah@orascomci.com 
Orascom Construction Industries (OCI)
Erika Wakid                   Nile City Towers - South Tower
Email:                        2005A Corniche El
Nilerika.wakid@orascomci.com     Cairo, Egypt
Hassan Badrawi
Director 
Tel: +202 2461 1036/0727/
0917
Fax: +202 2461 9409 
This information is provided by RNS 
The company news service from the London Stock Exchange 
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