DEERFIELD, Ill. -- CF Industries Holdings Inc. announced yesterday that it is commencing a public offering of 10,800,000 shares of common stock and has also granted the underwriters a 30-day option to purchase up to an additional 1,620,000 shares of common stock to cover over-allotments. CF Industries intends to use the net proceeds from this offering to repay outstanding borrowings under its $1.75 billion senior secured bridge facility, which was used to fund cash requirements relating to CF Industries' acquisition of Terra Industries Inc.

Morgan Stanley & Co. Incorporated will act as sole book-running manager and Mitsubishi UFJ Securities (USA), Inc. will act as senior co-manager in the common stock offering.

The offering will be made pursuant to CF Industries' effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC"). Investors should read the preliminary prospectus supplement and the accompanying prospectus for more complete information about CF Industries and the offering.

CF Industries Holdings also announced that its subsidiary CF Industries Inc. plans to undertake a public offering of senior notes in an aggregate principal amount of $1.6 billion pursuant to an automatic shelf registration statement to be filed this week with the Securities and Exchange Commission.

CF Industries intends to use the net proceeds from the offering of senior notes to repay outstanding borrowings under its $1.75 billion senior secured bridge facility and, to the extent of any net proceeds in excess of the amount required to fully repay borrowings under the senior secured bridge facility, to repay outstanding borrowings under its $2.0 billion senior secured term loan facility, each of which facilities was used to fund cash requirements relating to CF Industries' acquisition of Terra Industries Inc.

SOURCE: CF Industries Holdings, Inc.