Terrafina announced the issuance of a 7-year senior unsecured note placement in the international markets for $425 million (the Notes ) under Rule 144A and Regulation S format. The $425 million bond is due on November 10, 2022 with a 5.25% coupon. The issuance of the Notes was rated investment grade by both Moody's Investor Services and Fitch Ratings with a Baa3 and BBB- rating respectively.

The successful placement was confirmed with an order book that was approximately 2 times oversubscribed. Net proceeds from this offering will be used to repay the outstanding balance of certain loans as well as for general corporate purposes. In addition, with the issuance of the Notes, Terrafina's average debt maturity will substantially improve.