PLYMOUTH, Minn., Nov. 29 /PRNewswire-FirstCall/ -- The Mosaic Company announced today that its subsidiary Mosaic Global Holdings Inc. had extended the payment date for the previously announced tender offers and consent solicitations by Mosaic Global Holdings Inc. to purchase for cash any and all of its 6.875% Debentures due 2007, 10.875% Senior Notes due 2008, 11.250% Senior Notes due 2011, and 10.875% Senior Notes due 2013 and that its subsidiary, Phosphate Acquisition Partners L.P., had extended the payment date for the previously announced tender offer and consent solicitation by Phosphate Acquisition Partners L.P. to purchase for cash any and all of its 7% Senior Notes due 2008. The terms of the tender offers and consent solicitations for the debt securities are set out in Mosaic Global Holdings Inc.'s and Phosphate Acquisition Partners L.P.'s respective Offer to Purchase and Consent Solicitation Statements, each dated October 31, 2006. The payment dates, previously set to be November 30, 2006, will now be December 1, 2006, unless further extended. Interest will accrue up to but will not include the payment date as amended. Except for the above changes, all terms and conditions of the tender offers and consent solicitations are unchanged and remain in full force and effect.
Both Mosaic Global Holdings Inc. and Phosphate Acquisition Partners L.P. have received the requisite consents to adopt the proposed amendments pursuant to the consent solicitations as described in the respective Offer to Purchase and Consent Solicitation Statements.
Questions concerning the terms of the offers may be directed to J.P. Morgan Securities Inc. (the "Dealer Manager and Solicitation Agent") at 212-270-3994 (call collect), attention: Laura Yachimski. Questions concerning procedures regarding the offers may be directed to MacKenzie Partners, Inc. (the "Information Agent/Depositary") at 800-322-2885, attention: Jeanne Carr or Simon Coope.
About The Mosaic Company
The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. For the global agriculture industry, Mosaic is a single source of phosphates, potash, nitrogen fertilizers and feed ingredients. More information on the company is available at http://www.mosaicco.com/ .
Certain statements in this press release are forward-looking statements. Forward-looking statements include, among other things, statements about our expectations, beliefs, intentions or strategies for the future, statements concerning our future operations, financial conditions and prospects, and any statement of assumptions underlying any of the foregoing. In particular, forward-looking statements may include words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "potential," "predict," "project" or "should." The forward-looking statements contained herein reflect our current views with respect to future events, are based on information currently available to us and are subject to significant risks and uncertainties. These risks and uncertainties include but are not limited to the predictability of fertilizer, raw material and energy markets subject to competitive market pressures; changes in foreign currency and exchange rates; international trade risks including, but not limited to, changes in policy by foreign governments; changes in environmental and other governmental regulation; the ability to successfully integrate the former operations of Cargill Crop Nutrition and IMC Global Inc. and the ability to fully realize the expected cost savings from their business combination within expected time frames; adverse weather conditions affecting operations in central Florida or the Gulf Coast of the United States, including potential hurricanes or excess rainfall; actual costs of closure of the South Pierce, Green Bay and Fort Green facilities differing from management's current estimates; realization of management's expectations regarding reduced raw material or operating costs, reduced capital expenditures and improved cash flow and anticipated time frames for the closures and the ability to obtain any requisite waivers or amendments from regulatory agencies with oversight of The Mosaic Company or its phosphate business; accidents involving our operations, including mine fires, floods and potential explosions or releases of hazardous or volatile chemicals; our ability to enter into the amended and restated credit agreement and to complete the sale of the new senior notes; and the ability of our subsidiaries to successfully complete the tender offers for debt securities, as well as other risks and uncertainties reported from time to time in The Mosaic Company's reports filed with the Securities and Exchange Commission. Actual results may differ from those set forth in the forward-looking statements.
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