Rochester, NY 8/10/2009 2:55:41 PM
After Hours - Mosaic Co., MOS - Mosaic Ventures Into a New Unsecured Credit Facility
Mosaic Co.
The Mosaic Company announced that the company recently entered into a new unsecured $500 million revolving credit facility with a syndicate of banks. This new credit facility has a three year term and replaces a secured credit agreement that included a $450 million revolving credit facility scheduled to mature in February 2010.
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Administrative Agent for the credit facility is Wells Fargo Bank, N.A. and with Bank of Montreal is the Syndication Agent. JPMorgan Chase Bank, N.A., BNP Paribas and U.S. Bank, N.A. acted as joint Documentation Agents.
"This unsecured facility completes our investment grade capital structure and, combined with our significant cash holdings, provides additional flexibility to Mosaic," said Larry Stranghoener, Mosaic's Executive Vice President and Chief Financial Officer.
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