Loan & DebtJun 23, 2026, 04:07 PM
FMC Amends Credit Agreement for $200M Corteva Deal
AI Summary
FMC Corporation entered into Amendment No. 7 to its Fifth Amended and Restated Credit Agreement on June 16, 2026. This amendment facilitates a new supply and license agreement with Corteva Agriscience LLC, allowing FMC to grant Corteva a first priority security interest on certain intellectual property (Rimi IP). This security interest secures a contingent refund obligation tied to a $200 million payment received from Corteva, with existing lenders agreeing to release the Rimi IP as collateral under the Credit Agreement.
Key Highlights
- FMC amended its Credit Agreement on June 16, 2026, with Amendment No. 7.
- The amendment permits FMC to grant a first priority security interest on Rimi IP to Corteva Agriscience LLC.
- This secures a contingent refund obligation related to a $200,000,000 payment from Corteva.
- Existing lenders released the Rimi IP as collateral under the Credit Agreement.
- The Rimi IP will be re-granted as collateral to existing lenders upon termination of the Corteva Lien.
- Failure to re-grant the lien within 10 business days constitutes an Event of Default.
Price Impact
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