OCI Closes Record $1.2B In Bonds For Iowa Fertilizer Plant

Law360, New York (May 15, 2013, 6:56 PM EDT) -- An Iowa subsidiary of Dutch nitrogen fertilizer company OCI NV closed nearly $1.2 billion in noninvestment grade, tax exempt bonds on Wednesday — the largest such closing in U.S. history — to finance a natural gas-powered fertilizer production plant in the state.

Iowa Fertilizer Co. LLC closed the record-high bond offering, according to Orrick Herrington & Sutcliffe LLP, project counsel for Iowa Fertilizer and OCI. The funding will go toward construction of a nitrogen fertilizer plant in Wever, Iowa, the first world-scale natural-gas based fertilizer project...
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