<PAGE>
Page 1 of 11 Pages
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Amendment No. 2 to
SCHEDULE 13D
Under the Securities Exchange Act of 1934
TERRA NITROGEN COMPANY, L.P.
____________________________
(Name of Issuer)
Common Units of Limited Partnership Interests
_____________________________________________
(Title of Class of Securities)
881005 20 1
______________
(CUSIP Number)
N. Jordan
Secretary
George H. Valentine Minorco
Corporate Secretary Taurus International S.A.
Terra Industries, Inc. Taurus Investments S.A.
Terra Centre 9 Rue Sainte Zithe
600 Fourth Street Luxembourg City,
Sioux City, Iowa 51102-6000 Luxembourg
(712) 277-1340 (352) 404-1101
________________________________________________________________________________
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 19, 1998
_______________________________________________________
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [_].
Check the following box if a fee is being paid with the statement [_].
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CUSIP NO. 881005 20 1 13D PAGE 2 OF 11 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Terra Nitrogen Corporation
EIN: 72-1159610
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
11,172,414 (See Item 5)
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
11,172,414 (See Item 5)
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
11,172,414 (See Item 5)
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
60.4% (See Item 5)
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 881005 20 1 13D PAGE 3 OF 11 PAGES
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Terra Capital, Inc. (Due to direct ownership of 1,378,600 Common Units
and solely due to indirect ownership of 11,172,414 Common Units through
its wholly owned subsidiary, Terra Nitrogen Corporation) EIN: 42-1431650
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
12,551,014 Common Units (See Item 5)
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
12,551,014 Common Units (See Item 5)
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
12,551,014 Common Units (See Item 5)
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
67.8% (See Item 5)
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 881005 20 1 13D PAGE 4 OF 11 PAGES
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Terra Capital Holdings, Inc. (Solely due to indirect ownership through
its wholly owned subsidiary, Terra Capital, Inc.) EIN: 42-1431905
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
12,551,014 Common Units (See Item 5)
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
12,551,014 Common Units (See Item 5)
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
12,551,014 Common Units (See Item 5)
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
67.8% (See Item 5)
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 881005 20 1 13D PAGE 5 OF 11 PAGES
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Terra Industries, Inc. (Solely due to indirect ownership through its
wholly owned subsidiary, Terra Capital Holdings, Inc.) EIN: 52-1145429
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Maryland
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
12,551,014 Common Units (See Item 5)
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
12,551,014 Common Units (See Item 5)
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
12,551,014 Common Units (See Item 5)
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
67.8% (See Item 5)
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 881005 20 1 13D PAGE 6 OF 11 PAGES
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Taurus Investments S.A. -- Solely due to indirect ownership through its
ownership of 5.3% of the common stock of Terra Industries Inc.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Luxembourg
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
12,551,014 Common Units (See Item 5)
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
12,551,014 Common Units (See Item 5)
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
12,551,014 Common Units (See Item 5)
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
67.8% (See Item 5)
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 881005 20 1 13D PAGE 7 OF 11 PAGES
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Taurus International S.A. -- Solely due to indirect ownership through its
ownership of 51.4% of the common stock of Terra Industries Inc.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Luxembourg
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
12,551,014 Common Units (See Item 5)
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
12,551,014 Common Units (See Item 5)
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
12,551,014 Common Units (See Item 5)
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
67.8% (See Item 5)
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 881005 20 1 13D PAGE 8 OF 11 PAGES
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Minorco -- Solely due to indirect ownership through its wholly owned
subsidiaries, Taurus International S.A. and Taurus Investments S.A.
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Luxembourg
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
12,551,014 Common Units (See Item 5)
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
12,551,014 Common Units (See Item 5)
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
12,551,014 Common Units (See Item 5)
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
67.8% (See Item 5)
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Page 9 of 11 Pages
Item 1. Security and Issuer.
-------------------
This Amendment No. 2 amends the Schedule 13D dated March 31, 1997 of the
Reporting Persons relating to Common Units of limited partnership interests (the
"Common Units") of Terra Nitrogen Company, L.P., a Delaware limited partnership
("TNCLP"), and subsequently amended by Amendment No. 1 dated April 28, 1998. The
principal executive offices of TNCLP are at 600 Fourth Street, Sioux City, Iowa
51101.
Item 2. Identity and Background
-----------------------
Item 2 and Annex A are hereby amended to add the following additional
Officer of Terra on Annex A, Section IV:
Name: Wynn S. Stevenson (Vice President)
-----------------
Citizenship: United States of America
Business Address: Terra Centre, 600 Fourth Street, P.O. Box 6000
Sioux City, Iowa 51102-6000
Principal Occupation: Vice President, Taxes and
Corporate Development
Item 2 and Annex A are hereby further amended to delete all information
concerning E. P. Gush from Sections VI, IX, X and XI of Annex A.
Item 3. Source and Amount of Funds or Other Consideration.
-------------------------------------------------
Item 3 is hereby amended by the insertion of the following additional
sentence at the end of the second paragraph: "The amount of funds expended for
the purchases between May 1, 1998 and May 19, 1998 totalled $4.8 million."
Item 4. Purpose of Transaction.
----------------------
Item 4 is hereby amended by the insertion of the following additional
sentence after the second sentence of the second paragraph: "Terra Capital
further purchased 185,300 Common Units between May 1, 1998 and May 19, 1998
pursuant to the buyback authority."
Item 5. Interest in Securities of the Issuer.
------------------------------------
Item 5 is hereby amended by deleting the second and third sentences of the
first paragraph under section (a) and replacing them with the following
sentences: "Terra Capital is the direct beneficial owner of 1,378,600 Common
Units and, by virtue of its ownership of all the outstanding common stock of
TNC, may be deemed to possess indirect beneficial ownership of the Common Units
beneficially owned by TNC. Thus, Terra Capital's direct and indirect ownership
in the aggregate represents approximately 67.8% of the outstanding Common
Units."
Item 5 is hereby further amended by deleting the second sentence of the
first paragraph under section (b) and replacing it with the following sentence:
"Terra Capital has the power to vote or direct the vote and the power to dispose
of or direct the disposition of the 1,378,600 Common Units beneficially owned by
Terra Capital."
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Page 10 of 11 Pages
Item 5 is hereby further amended by restating the table under section
(c)(i) to read as follows:
<TABLE>
<CAPTION>
Purchase Date Number of Units Price per Unit
------------- --------------- --------------
<S> <C> <C>
1/28/98 86,100 $29.8750
4/24/98 36,800 24.8935
4/27/98 48,000 24.9328
4/28/98 26,500 25.0000
4/29/98 15,000 24.9563
4/30/98 6,000 25.0000
5/1/98 16,700 25.0000
5/4/98 5,800 24.9203
5/5/98 9,800 24.9617
5/6/98 3,200 25.0000
5/7/98 6,400 25.0000
5/8/98 8,500 24.9853
5/11/98 23,200 24.9930
5/12/98 7,700 25.0000
5/13/98 52,200 26.5489
5/14/98 2,500 26.0250
5/15/98 15,300 26.9714
5/18/98 12,100 26.9633
5/19/98 21,900 27.0000
-------
Total 403,700
</TABLE>
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
Not amended.
Item 7. Material to be Filed as Exhibits.
Not amended.
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Page 11 of 11 Pages
SIGNATURE
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certifies that the information set forth in this Statement is true,
complete and correct.
Date: May 20, 1998 TERRA NITROGEN CORPORATION
By /s/ George H. Valentine
-------------------------------------------
George H. Valentine
Its: Vice President and General Counsel
TERRA CAPITAL, INC.
By /s/ George H. Valentine
-------------------------------------------
George H. Valentine
Its: Vice President and Corporate Secretary
TERRA CAPITAL HOLDINGS, INC.
By /s/ George H. Valentine
-------------------------------------------
George H. Valentine
Its: Vice President and Corporate Secretary
TERRA INDUSTRIES INC.
By /s/ George H. Valentine
-------------------------------------------
George H. Valentine
Its: Senior Vice President, General Counsel and
Corporate Secretary
TAURUS INVESTMENTS S.A.
By /s/ Nick Jordan
-------------------------------------------
Nick Jordan
Its: Secretary
TAURUS INTERNATIONAL S.A.
By /s/ Nick Jordan
---------------
Nick Jordan
Its: Secretary
MINORCO
By /s/ Nick Jordan
-------------------------------------------
Nick Jordan
Its: Secretary
