FMC Executes Credit Agreements Of $3.5 Billion For Cheminova Acquisition

(RTTNews) - FMC Corp. (FMC) Tuesday said it executed $3.5 billion of unsecured credit agreements with lenders to fund the acquisition of Cheminova.

The company entered into the new credit agreements this week.  A new term loan agreement gives upto $2 billion senior unsecured loans that can be drawn to finance the acquisition of Cheminova as well as pay associated fees and expenses. The term loan facility will expire five years after it is used to fund the acquisition.

The company also said it amended and extended the term of $1.5 billion revolving credit agreement which will now expire on October 10, 2019.