Potash Issues US$500M 5-Year Notes and US$500M 10-Year Notes

On May 1, 2009, Potash Corporation of Saskatchewan Inc. issued US$500 million aggregate principal amount of 5.25 per cent notes due May 15, 2014 and US$500 million aggregate principal amount of 6.5 per cent notes due May 15, 2019.

Banc of America Securities LLC, HSBC and RBC Capital Markets acted as joint book-running managers of the offering, while Scotia Capital, BMO Capital Markets, Mitsubishi UFJ Securities, CIBC World Markets, Rabo Securities USA, Inc., Comerica Securities, Société Générale, Goldman Sachs & Co. and UBS Investment Bank acted as co-managers.

PotashCorp was advised by Edward (Ward) Winslow, Andrew Farwig and David Shafer (capital markets) of Jones Day in Chicago; William J. Braithwaite, Adam J. Kline and Mike Devereux (corporate) of Stikeman Elliott LLP in Toronto; Nathan Boidman and Marie-Emmanuelle Vaillancourt (tax) of Davies Ward Phillips & Vineberg LLP in Montréal; and Gary J. Gartner, Willys H. Schneider and David A. Sausen (tax) of Kaye Scholer LLP in New York.

The underwriters were represented by Skadden, Arps, Slate, Meagher & Flom LLP with a team including Christopher W. Morgan, Ryan J. Dzierniejko, Michael Acedo, Julie Breau and Erin Gustafson (corporate); Eric Sensenbrenner and Aaron Feinberg (tax); and Henry Eisenberg (environmental).

Lawyer(s)

Christopher W. Morgan Edward B. Winslow William J. Braithwaite Eric Sensenbrenner Gary J. Gartner Adam J. Kline Nathan Boidman

Firm(s)

Jones Day Stikeman Elliott LLP Davies Ward Phillips & Vineberg LLP Kaye Scholer LLP Skadden, Arps, Slate, Meagher & Flom LLP