FMC looks to amend credit facility to lower term loan rates, change financial covenants

By Sara Rosenberg

New York, Dec. 9 - FMC Corp. is seeking lender consent to reduce the interest rate on its term loan, modify some financial covenants to accommodate the previously announced restructuring of Astaris LLC, and make other technical amendments to the credit agreement, according to a filing with the Securities and Exchange Commission.

Furthermore, corresponding amendments are being sought in the company's $40 million supplemental letter-of-credit facility.

The company obtained the $500 million credit facility in October 2002, consisting of a $250 million revolver and a $250 million term loan. As of Sept. 30, there was $248.1 million of term loans outstanding.

FMC is a Philadelphia diversified chemical company. Astaris is the company's 50%-owned phosphorus joint venture.

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