FMC amends credit agreement, extends covenant relief through 2028; adds springing lien trigger

FMC CORP

Covenant relief period extended to earlier of Dec 31, 2028 or notice; leverage ratio steps down from 6.00x to 3.75x.
Minimum interest coverage ratio set at 2.00x through Mar 2027, then 2.50x through Dec 2028.
Subsidiary indebtedness capped at $350M during relief period; dividend above $0.08/share requires pro forma leverage ≤3.75x.
New IP collateral minimum of $1B; if ratings fall below BB+/Ba1 from any two of S&P, Fitch, Moody's, must grant lien on substantially all assets.
Consent fee of 0.075% of aggregate commitments paid to lenders that consented by Dec 7, 2025.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

FMC CORP amended Amendment No. 5 to Fifth Amended and Restated Credit Agreement with Citibank, N.A., as administrative agent, and each lender and issuing bank valued at Modifications to leverage ratio and minimum interest coverage ratio financial covenants; covenant re (effective 2025-12-08).

Action: amendment
Agreement: credit facility
Counterparty: Citibank, N.A., as administrative agent, and each lender and issuing bank
Value: Modifications to leverage ratio and minimum interest coverage ratio financial covenants; covenant re
Effective: 2025-12-08

Exact text from the filing

On December 8, 2025, FMC Corporation (the "Company") and certain subsidiaries of the Company entered into Amendment No. 5 (the "Amendment") to that certain Fifth Amended and Restated Credit Agreement, dated as of June 17, 2022, among the Company, certain of the Company's subsidiaries from time to time party thereto as borrowers, Citibank, N.A., as administrative agent, and each lender and issuing bank from time to time party thereto (the "Lenders").

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Source: SEC EDGAR

accession 0001193125-25-311499

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