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Article Excerpt
SIOUX CITY, Iowa -- Terra Capital, Inc. ("Terra Capital"), a wholly-owned subsidiary of Terra Industries Inc. ("Terra") (NYSE: TRA), today announced that it has completed its previously announced cash tender offer and consent solicitation (the "Tender Offer") for its outstanding $330,000,000 7.00% Senior Notes due 2017 (CUSIP No. 88089PAF0) (the "2017 Notes"). The Tender Offer expired at 12:00 midnight, New York City time on Monday, October 26, 2009 (the "Expiration Date"). As of the Expiration Date, Terra Capital had received tenders from holders of approximately $317.5 million aggregate principal amount of the 2017 Notes, representing approximately 96.2% of the outstanding 2017 Notes.
Today, Terra Capital accepted for purchase all 2017 Notes that were validly tendered as of the Expiration Date and payment for the validly tendered 2017 Notes was made. Holders of the 2017 Notes whose notes were validly tendered received $1,153.75 for each...
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