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FMC Corporation Announces Pricing of $1.2 Billion of Senior Secured Notes
FMC Corporation Announces Pricing of $1.2 Billion of Senior Secured
About this update from Fmc Corporation
[{"type":"text","content":"FMC Corporation (NYSE:FMC) ('FMC' or the 'Company'), a leading global agricultural sciences company, today announced that it has priced an offering of $1.2 billion aggregate principal amount of 8.000% senior secured notes due 2031 (the 'Notes') at an issue price equal to 100% of the principal amount thereof.\nThe Notes will be sold in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'), and to non-U.S. persons outside of the United States pursuant to Regulation S under the Securities Act. The offering is expected to close on June 5, 2026, subject to customary closing conditions.\nThe Company intends to use the net proceeds from the offering to fund the repurchase or redemption of the Company's outstanding 3.200% Senior Notes due October 1, 2026, to repay outstanding borrowings under the Company's Fifth Amended and Restated Credit Agreement, dated as of June 17, 2022, and for general corporate purposes, including the repayment of other debt.\nThe Notes will be fully and unconditionally guaranteed, jointly and severally, by various subsidiaries of the Company organized under the laws of the United States, Switzerland, the Netherlands, Canada and Singapore (the 'Subsidiary Guarantors'). The Notes and related note guarantees will be secured by first-priority liens on (i) substantially all of the assets of the Company and the Subsidiary Guarantors organized under the laws of the United States, Canada and Switzerland, other than certain excluded property and (ii) all the equity interests held by the Subsidiary Guarantors organized under the laws of Singapore and the Netherlands in their respective subsidiaries.\nNeither the Notes nor the guarantees have been registered under the Securities Act or the securities laws of any other jurisdiction, and the Notes and the guarantees may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and any applicable state securities laws.\nThis press release shall not constitute an offer to sell, or a solicitation of an offer to buy the Notes or guarantees, nor shall there be any sale of the Notes or guarantees in any state or jurisdiction in which such an offer, solicitation or sale would be unl...