Mosaic raises $2B in bond offering as buyback/dividend restriction expiration looms

• Mosaic (MOS +1.3%) raises $2B in bond sales as a company restriction on share buybacks/dividends is set to expire on Nov. 26. The freeze was placed back in the 2004 merger that created the company.
• The company sold $900M of 4.25% bonds due in 2023, $500M of 5.45% bonds due in 2033, and $600M of 5.625% bonds due in 2043.
• Proceeds will be used for general corporate purposes, share buybacks, and/or dividends.