FMC amends credit agreement to raise max leverage ratio temporarily to 4.00x through Q1 2024

FMC CORP

Max leverage ratio increased to 4.00x for fiscal quarters June 30, 2023 through March 31, 2024.
Effective June 30, 2024, leverage ratio returns to 3.75x under Fifth Amended and Restated Credit Agreement.
Amendment executed June 30, 2023 with lenders including Citibank, Bank of America, JPMorgan, and others.
Represents a covenant relaxation, providing additional financial flexibility for near-term periods.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

FMC CORP amended Amendment No. 1 with the Lenders, the issuing banks, and Citibank, N.A. (effective 2023-06-30).

Action: amendment
Agreement: credit facility
Counterparty: the Lenders, the issuing banks, and Citibank, N.A.
Effective: 2023-06-30

Exact text from the filing

On June 30, 2023, FMC Corporation (the “ Company ”) entered into Amendment No. 1 (the “ Amendment ”) to that certain Fifth Amended and Restated Credit Agreement, dated as of June 17, 2022, among the Company, as U.S. Borrower, certain foreign subsidiaries of the Company party thereto, as Euro Borrowers, the lenders party thereto (the “ Lenders ”) and issuing banks party thereto and Citibank, N.A., as administrative agent (the “ Credit Agreement ”).

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Source: SEC EDGAR

accession 0001193125-23-183826

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