COMPASS MINERALS INTERNATIONAL INC current report, 21 May 2009

Business Context and Reporting Period

Company: Compass Minerals International Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: May 21, 2009
Event: Regulation FD Disclosure regarding the pricing of a private placement offering of senior notes.

Key Financial Metrics

This filing does not report operational financial metrics such as revenue, profit, cash flow, or margins. It focuses exclusively on a capital market transaction.

Metric Value
Aggregate Principal Amount $100.0 million
Instrument 8% Senior Notes due 2019
Issue Price 97.497% of face value
Effective Yield 8.375%
Expected Closing Date June 5, 2009

Material Changes

The filing announces a material change in the company's capital structure through the issuance of new debt. The company has priced a $100.0 million offering of 8% Senior Notes due 2019. The notes are being sold at a discount to par (97.497%), resulting in an effective yield of 8.375% for investors.

Outlook, Risks, and Contingencies

  • Closing Conditions: The transaction is expected to close on June 5, 2009, subject to the satisfaction or waiver of customary closing conditions.
  • Legal Disclaimer: The information contained in this report does not constitute an offer to sell or a solicitation of an offer to purchase the notes in any jurisdiction where such an offer would be unlawful.
  • Filing Status: The information is furnished and not deemed "filed" with the SEC for purposes of incorporation by reference into other registration statements.

Investor Verification Checklist

  • Verify the final closing of the $100.0 million Notes Offering on or around June 5, 2009.
  • Confirm the actual proceeds received after accounting for the 2.503% discount (97.497% price) and any underwriting fees not detailed in this summary.
  • Review the full text of the press release (Exhibit 99.1) for specific details on the use of proceeds.
  • Monitor subsequent filings for the official registration of the notes and any changes to the closing date.