CHS INC (CHSCP): debt financing — CHS Inc. issues $150M 5.68% senior notes due 2030 in private placement

CHS INC

Issued $150M Series CC Senior Notes due Jan 24, 2030 at 5.68% fixed rate; rate steps up to 6.68% max if leverage high and no investment grade.
Notes unsecured, rank pari passu with other unsecured senior debt; net proceeds for general corporate purposes, capex, investments, refinancing.
Financial covenants: leverage ratio ≤ 3.50x, adjusted funded debt to net worth ≤ 0.80x, priority debt limit ≤ 20% of net worth.
Change-in-control prepayment triggered if any party acquires >50% voting power.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

CHS INC incurred senior notes of $150,000,000 with Purchasers at 5.68% per annum maturing January 24, 2030.

Instrument: senior notes
Principal: $150,000,000
Counterparty: Purchasers
Rate: 5.68% per annum
Maturity: January 24, 2030
Event: incurrence

Exact text from the filing

On January 24, 2023, CHS Inc. (the “Company”) entered into a Note Purchase Agreement (the “Note Purchase Agreement”) with the accredited investors signatory thereto (collectively, the “Purchasers”), pursuant to which the Company will issue and sell, in a private placement, its Series CC Senior Notes in the aggregate principal amount of $150,000,000 with a maturity date of January 24, 2030 (the “Notes”).

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Source: SEC EDGAR

accession 0000823277-23-000014

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