FMC borrows $1 billion three-year senior term loan facility

Chicago, Nov. 23 – FMC Corp. entered into a $1 billion term loan on Monday with Citibank, NA as administrative agent, according to an 8-K filed with the Securities and Exchange Commission.

The loan has a three-year tenor. Voluntary prepayments are permitted at any time without penalty, upon proper notice and subject to minimum dollar amounts.

The interest rate is based on ratings and is one-month Libor plus 87.5 basis points to 112.5 bps, with three tiers. The initial rate is one-month Libor plus 100 bps.

Citibank, NA, BofA Securities, Inc., BNP Paribas, CoBank, ACB, Sumitomo Mitsui Banking Corp., TD Securities (USA) LLC, Truist Securities, Inc. and U.S. Bank NA are joint lead arrangers.

Bank of America, NA, BNP Paribas, CoBank, ACB, Sumitomo Mitsui Banking Corp., TD Bank, NA, Truist Bank and U.S. Bank NA are the co-syndication agents.

Proceeds will be used to pay off certain existing debt and for general corporate purposes.

FMC is a diversified chemical company based in Philadelphia.

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