Please Pass The Salt; Investors May Taste Morton Debt.(News)

Byline: Richard Kellerhals

In Roman times, salt was so precious it was used as cash. (Hence the word salary, sal being the Latin word for salt.) If that were still the case, Morton Salt probably wouldn't be selling itself to the Germans. The move could good news for investors, however, because they could see a[logical not]1.4 billion ($1.86 billion) in debt coming their way. That's a lot of salt!

Dresdner Kleinwort, SociA[c]tA[c] GA[c]nA[c]rale and Unicredit, earlier this month, underwrote the credit facility, which consists of a $665 million bridge loan, a $399 million term loan B and a $798 million revolver. The proceeds will help fund K+S …