FMC amends maximum leverage ratio covenant for revolver, term loan

By Susanna Moon

Chicago, March 28 – FMC Corp. amended its revolving credit agreement and its term loan agreement on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

The maximum leverage ratio financial covenant was revised to 4.5 times for the fiscal quarter ended March 31, stepping down to 3.5 times for the quarter ending Sept. 30, 2017 and thereafter.

The company also amended the definition of EBITDA in the revolving credit agreement and added European Union bail-in contractual recognition provisions.

For both credit agreements, Citigroup Global Markets Inc. and Bank of America Merrill Lynch are the joint lead arrangers. Citibank, NA as administrative agent. Bank of America, NA is the syndication agent.

FMC is a diversified chemical company based in Philadelphia.

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