CHS files $2bn shelf registration
CHS announced that it has filed a shelf registration statement on Form S-3 with the Securities and E…CHS announced that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC).
Under the shelf registration, upon being declared effective by the SEC, CHS may offer and sell, from time to time, up to $2 billion of its Class B cumulative redeemable preferred stock over the next three years.
The shelf registration statement is intended to give CHS additional flexibility to finance future business opportunities by accessing the capital markets on a timely and cost-effective basis. At the present time, the Company has no specific plans to issue preferred stock under the registration statement.
The specifics of any future offering, along with the prices and terms of any such preferred stock and the use of proceeds of a particular offering, will be determined at the time of any such offering and will be described in a prospectus supplement filed in connection with such offering.
CHS President and Chief Executive Officer Carl Casale said the filing was a strategic move intended to provide flexibility. "The shelf registration statement provides us financial flexibility for general corporate purposes. In addition, it streamlines the process in the event we identify strategic opportunities that may require additional capital."
The shelf registration statement relating to the preferred stock has been filed with the SEC but has not yet become effective.
CHS is a leading global agribusiness owned by farmers, ranchers and cooperatives across the US.Diversified in energy, grains and foods, CHS is committed to helping its customers, farmer-owners and other stakeholders grow their businesses through its domestic and global operations.