CF Industries Holdings, Inc.’s (NYSE:CF) fully-owned subsidiary CF Industries, Inc. has redeemed all of the $800 million outstanding principal amount of its 6.875% senior notes due May 2018.
CF Industries Holdings, Inc. Price and Consensus
Koppers Holdings Inc. (KOP): Free Stock Analysis Report
Westlake Chemical Corporation (WLK): Free Stock Analysis Report
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CF Industries Holdings, Inc. (CF): Free Stock Analysis Report
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This was done in accordance with the optional redemption provisions of the indenture governing the notes. The total redemption value was around $816.6 million plus accrued and unpaid interest to, but not including, Dec 1, 2017.
CF Industries has significantly outperformed the industry it belongs to over the last six months. The company’s shares have moved up 43% over this period, compared with roughly 24.5% growth recorded by the industry.
According to CF Industries, the global demand for urea was strong during the third quarter and imports to Brazil went up through August by roughly 50% year over year. Also, during the quarter, India issued three tenders resulting in purchase of 1.4 million metric tons of urea.
The third quarter also witnessed a rapid increase in the global price of urea from second quarter, which was driven by considerably lower Chinese exports, higher production and energy costs, a weaker dollar and strong global demand.
The company expects lower Chinese urea export volumes to continue and volatility in nitrogen prices in global markets to continue through 2018.
CF Industries is also well placed to gain from its efforts to boost production capacity. The company is also enjoying the benefit of ample natural gas supply.
CF Industries Holdings, Inc. Price and Consensus
Koppers Holdings Inc. (KOP): Free Stock Analysis Report
Westlake Chemical Corporation (WLK): Free Stock Analysis Report
Ingevity Corporation (NGVT): Free Stock Analysis Report
CF Industries Holdings, Inc. (CF): Free Stock Analysis Report
Original post