Attached files
file | filename |
---|---|
8-K - FORM 8-K - POTASH CORP OF SASKATCHEWAN INC | o66891e8vk.htm |
EX-1.A - EXHIBIT 1(A) - POTASH CORP OF SASKATCHEWAN INC | o66891exv1wa.htm |
EX-4.A - EXHIBIT 4(A) - POTASH CORP OF SASKATCHEWAN INC | o66891exv4wa.htm |
EX-8.A - EXHIBIT 8(A) - POTASH CORP OF SASKATCHEWAN INC | o66891exv8wa.htm |
EX-5.A - EXHIBIT 5(A) - POTASH CORP OF SASKATCHEWAN INC | o66891exv5wa.htm |
EX-4.B - EXHIBIT 4(B) - POTASH CORP OF SASKATCHEWAN INC | o66891exv4wb.htm |
EX-8.B - EXHIBIT 8(B) - POTASH CORP OF SASKATCHEWAN INC | o66891exv8wb.htm |
EX-23.D - EXHIBIT 23(D) - POTASH CORP OF SASKATCHEWAN INC | o66891exv23wd.htm |
EX-23.C - EXHIBIT 23(C) - POTASH CORP OF SASKATCHEWAN INC | o66891exv23wc.htm |
Exhibit 5(b)
[Jones Day Letterhead]
November 22, 2010
Potash Corporation of Saskatchewan Inc.
122-1st Avenue South, Suite 500
Saskatoon, Saskatchewan S7K 7G3
122-1st Avenue South, Suite 500
Saskatoon, Saskatchewan S7K 7G3
Re: | $500,000,000 of 3.25% Notes due 2017 of Potash Corporation of Saskatchewan Inc. $500,000,000 of 5.625% Notes due 2040 of Potash Corporation of Saskatchewan Inc. |
Ladies and Gentlemen:
We have acted as counsel for Potash Corporation of Saskatchewan Inc., a corporation organized
under the laws of Canada (the Company), in connection with the issuance and sale of $500,000,000
aggregate principal amount of the Companys 3.25% Notes due 2017 (the 2017 Notes) and
$500,000,000 aggregate principal amount of the Companys 5.625% Notes due 2040 (the 2040 Notes
and together with the 2017 Notes, the Notes) pursuant to the Terms Agreement, dated as of
November 22, 2010, including the Underwriting Agreement attached thereto as Exhibit I
(collectively, the Underwriting Agreement), by and among the Company and Merrill Lynch, Pierce,
Fenner & Smith Incorporated, acting as representative of the several underwriters named therein
(the Underwriters). The Notes will be issued pursuant to the Indenture, dated as of February 27,
2003 (as amended, supplemented or otherwise modified through the date hereof, the Indenture), by and between the Company and The Bank of
Nova Scotia Trust Company of New York, as trustee (the Trustee).
In connection with the opinion expressed herein, we have examined such documents, records and
matters of law as we have deemed relevant or necessary for purposes of such opinion. Based on the
foregoing, and subject to the further limitations, qualifications and assumptions set forth herein,
we are of the opinion that the Notes, when they are executed by the Company and authenticated by
the Trustee in accordance with the Indenture and issued and delivered to the Underwriters against
payment thereof in accordance with the terms of the Underwriting Agreement, will constitute valid
and binding obligations of the Company.
For purposes of the opinion expressed herein, we have assumed that (i) the definitive terms of
the Notes will be established in accordance with the provisions of the Indenture and (ii) the
Trustee has authorized, executed and delivered the Indenture and the Indenture is the valid,
binding and enforceable obligation of the Trustee.
We have further assumed that: (i) the Company (a) is a corporation existing and in good
standing under the laws of Canada and (b) has (1) all requisite power and authority, (2) obtained
all requisite organizational, third party and governmental authorizations, consents and approvals
Potash Corporation of Saskatchewan Inc.
November 22, 2010
Page 2
November 22, 2010
Page 2
and (3) made all filings and registrations required to enable it to execute, deliver and perform
its obligations under the Indenture and the Notes; (ii) such execution, delivery and performance
did not and will not violate or conflict with any law, rule, regulation, order, decree, judgment,
instrument or agreement binding upon or applicable to it or its properties; and (iii) the Indenture
and the Notes (a) have been (1) duly authorized by the Company and (2) executed and delivered by
the Company under the laws of Canada, (b) do not violate the laws of Canada and (c) constitute
valid and binding obligations of the Company under the laws of Canada.
The opinion expressed herein is limited by bankruptcy, insolvency, reorganization, fraudulent
transfer and fraudulent conveyance, voidable preference, moratorium or other similar laws and
related regulations and judicial doctrines from time to time in effect relating to or affecting
creditors rights and remedies generally, and by general equitable principles and public policy considerations,
whether such principles and considerations are considered in a proceeding at law or in equity.
The opinion expressed herein is limited to the laws of the State of New York, as currently in
effect, and we express no opinion as to the effect of the laws of any other jurisdiction.
We hereby consent to the filing of this opinion as Exhibit 5(b) to the Current Report on Form
8-K dated the date hereof filed by the Company and incorporated by reference into the Registration
Statement on Form S-3 (Reg. No. 333-167833) (the Registration Statement), filed by the Company to
effect the registration of the Notes under the Securities Act of 1933 (the Act) and to the
reference to Jones Day under the caption Legal Matters in the prospectus constituting a part of
such Registration Statement. In giving such consent, we do not thereby admit that we are included
in the category of persons whose consent is required under Section 7 of the Act or the rules and
regulations of the Securities and Exchange Commission promulgated thereunder.
Very truly yours,
/s/ Jones Day