Plymouth, Minn.-The Mosaic Co. said July 29 that it has entered into a new unsecured $500 million revolving credit facility with a syndicate of banks. This 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. Wells Fargo Bank, N.A. is the administrative agent, and Bank of Montreal is the syndication agent for the new facility. 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 CFO.
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