Compass Minerals issues $650M 8.000% senior notes due 2030; redeems $350M of 6.750% notes due 2027

COMPASS MINERALS INTERNATIONAL INC

Issued $650M aggregate principal amount of 8.000% senior notes due 2030; interest payable Jan 1 and July 1 starting Jan 1, 2026.
Used net proceeds to repay all outstanding credit facility borrowings and to redeem ~$350M of 6.750% notes due 2027.
Credit agreement amendment fixes revolver at $325M; max first lien net leverage 2.75x (steps to 2.50x Dec 31, 2025); min interest coverage 1.50x.
Notes are senior unsecured, rank equally with existing senior unsecured debt but subordinated to secured debt, including amended credit facility.
Notes redeemable at make-whole premium before July 1, 2027; up to 40% may be redeemed at 108% with equity offering proceeds.

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