Crop Nutrition

Mosaic announces new $700 million term loan facility

Quick Share

24 May 2023, Tampa: The Mosaic Company (NYSE:MOS) today announced that it has closed on a new $700 million 10-year term loan facility through the Farm Credit System. Uniquely available to agribusiness participants, this facility provides attractive terms that include a delayed draw option and prepayment with no penalty. The initial interest rate under the agreement is 175 basis points over the Secured Overnight Financing Rate.

“Mosaic’s financial position is robust and this latest agreement highlights the strength of our balance sheet,” said Joc O’Rourke, President and Chief Executive Officer. “This loan provides Mosaic with the flexibility to manage its maturities through volatile credit markets and allocate capital efficiently.”

Also Read: FMC Corporation and Syngenta to commercialize breakthrough technology that controls grass weed in rice in Asia

(For Latest Agriculture News & Updates, follow Krishak Jagat on Google News)

Quick Share