MINNETONKA, Minn., Feb. 22 /PRNewswire-FirstCall/ -- The Mosaic Company
(NYSE: MOS) announced that on February 18th it entered into new senior secured
credit facilities for a total of $850 million. The new credit agreement meets
the combined requirements of its four business segments and includes a
$450 million revolving credit facility, a $350 million Term Loan B facility
and a $50 million Term Loan A facility. The $450 million revolving credit
agreement is with The Mosaic Company and certain subsidiaries while the Term
Loan B of $350 million is with Mosaic Global Holdings Inc. The $50 million
Term Loan A is with Mosaic Potash Colonsay ULC. The interest rate for the
revolving credit and Term Loan A is Libor plus 1.25 percent while the Term
Loan B interest rate is Libor plus 1.50 percent. Standard & Poor's has
assigned a rating of "BB+" to the new senior secured facilities, and Moody's
Investors Service has assigned a rating of "Ba2".
The new credit facilities are being used to repay Mosaic Global Holding's
prior Term Loan B (approximately $250 million outstanding) plus the
outstanding amounts under Mosaic Global Holding's $210 million revolving
credit agreement, the outstanding amounts under The Mosaic Company's
$160 million interim credit agreement, the payment of fees, and for general
corporate purposes.
The agent for this new credit facility is J.P. Morgan Chase Bank NA as
administrative agent. J.P. Morgan Securities Inc. was the sole book running
agent and co-leader arranger, and BNP Paribas was co-leader arranger.
About The Mosaic Company
The Mosaic Company is one of the world's leading producers and marketers
of concentrated phosphate and potash crop nutrients. For the global
agriculture industry, Mosaic is a single source of phosphates, potash,
nitrogen fertilizers and feed ingredients. More information on the company is
available at http://www.mosaicco.com .
SOURCE The Mosaic Company
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Related links:
http://www.mosaicco.com
CONTACT:
Media, Linda Thrasher, +1-952-984-0350, or
Investors, Douglas Hoadley, +1-952-984-0234, both of The Mosaic
Company
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