Company: CF
Filing Date: 2025-11-19
Form Type: 424B2
Source: 0001104659-25-113972
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Company: CF Industries Holdings, Inc.
Filing Date: 2025-11-19
Form: 424B2
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TABLE OF CONTENTS The information in this preliminary prospectus supplement is not complete and may be changed. A registration statement relating to these securities is effective under the Securities Act of 1933, as amended. We are not using this preliminary prospectus supplement and the accompanying prospectus to offer to sell or to solicit offers to buy these securities in any jurisdiction where the offer or sale is not permitted.

Filed Pursuant to Rule 424(b)(2) Registration Nos. 333-291328; 333-291328-01 SUBJECT TO COMPLETION
PRELIMINARY PROSPECTUS SUPPLEMENT DATED NOVEMBER 19, 2025 PROSPECTUS SUPPLEMENT
(To Prospectus dated November 6, 2025) CF INDUSTRIES, INC. $ % Senior Notes due 20 guaranteed by CF INDUSTRIES HOLDINGS, INC. CF Industries, Inc., a Delaware corporation (“CF Industries” or the “Issuer”), is offering $ aggregate principal amount of % Senior Notes due 20 (the “notes”). Interest on the notes will be paid semi-annually in arrears on and of each year, beginning on , 2026. The notes will mature on , 20 . The Issuer may redeem the notes, in whole or in part, at any time and from time to time, prior to their stated maturity at the applicable redemption price described in this prospectus supplement in the section entitled “Description of Notes — Redemption Rights.” Upon the occurrence of a Change of Control Triggering Event, as defined in “Description of Notes,” unless the notes are being redeemed as described under “Description of Notes — Optional Redemption,” we will be required to make an offer to repurchase the notes at a price equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest, if any, to, but excluding, the date of purchase. See “Description of Notes — Change of Control.” The notes will be unsecured and will rank equally in right of payment to all of the Issuer’s existing and future unsecured unsubordinated debt and senior in right of payment to all of the Issuer’s existing and future debt that is by its terms expressly subordinated in right of payment to the notes. The notes will be effectively subordinated to any of the Issuer’s existing and future secured debt to the extent of the value of the assets securing such debt. The obligations to make payments of principal and interest on the notes will be structurally subordinated to any obligations of the Iss