secwatch.observer — SEC 8-K summary
======================================

Issuer:     FMC CORP (FMC)
CIK:        0000037785
Form:       8-K
Filed at:   2025-12-09T23:59:59+00:00
Accession:  0001193125-25-311499
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/37785/000119312525311499/0001193125-25-311499-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/37785/000119312525311499/d873544d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-311499

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer