FMC CORP

FMC Corporation completed a private offering of $1.2 billion aggregate principal amount of its 8.000% Senior Secured Notes due 2031. The Notes were issued at 100% of their principal amount, yielding estimated net proceeds of $1.185 billion. The company intends to use these proceeds to repurchase or redeem its outstanding 3.200% Senior Notes due October 2026, repay borrowings under its credit agreement, and for general corporate purposes.

FMC Corporation announced the pricing of its previously disclosed offering of $1.2 billion aggregate principal amount of 8.000% Senior Secured Notes due 2031. The offering is expected to close on June 5, 2026. The company plans to use the net proceeds to repurchase or redeem its outstanding 3.200% Senior Notes due October 1, 2026, repay existing credit agreement borrowings, and for general corporate purposes, including other debt repayment. The Notes will be secured by first-priority liens on substantially all assets of FMC and its US, Canadian, and Swiss subsidiary guarantors, and equity interests of Singaporean and Dutch subsidiary guarantors.

FMC Corporation announced a proposed private offering of $750.0 million in senior secured notes due 2031. The company intends to use the net proceeds primarily to repurchase or redeem its outstanding 3.200% Senior Notes due October 2026 and to repay borrowings under its existing credit agreement, as well as for general corporate purposes. The notes will be fully guaranteed by various subsidiaries and secured by first-priority liens on company assets.

FMC CORP reported a net loss of $(281.3) million for Q1 2026, a significant increase from $(15.5) million in Q1 2025, with revenue decreasing to $758.6 million. The company amended its Revolving Credit Facility on April 16, 2026, modifying maximum leverage and minimum interest coverage ratios to provide covenant relief through March 2029. Restructuring charges totaled $94.5 million, primarily due to Project Foundation's manufacturing footprint optimization, and the divestment of the India business is ongoing.

FMC Corporation adopted restated By-Laws on April 28, 2026, which include significant updates to its corporate governance framework. A key change is the introduction of a proxy access provision, allowing eligible stockholders to nominate directors for inclusion in the company's proxy materials. To qualify, stockholders must own at least 3% of the common stock for a continuous three-year period. The number of stockholder nominees is capped at the greater of two or 20% of the board, with specific requirements for nomination notices and nominee eligibility.

FMC Corporation reported first quarter 2026 revenue of $759 million, a 4% decrease year-over-year, and Adjusted EBITDA of $72 million, down 40%. Despite the declines, Q1 results were above guidance, with Adjusted EBITDA exceeding the high end of the range. The company reaffirmed its full-year 2026 outlook for revenue, Adjusted EBITDA, Adjusted EPS, and free cash flow. FMC is also actively progressing with its Board-authorized evaluation of strategic alternatives.

FMC Corporation and its subsidiaries entered into Amendment No. 6 to their Credit Agreement on April 16, 2026. The amendment modifies the maximum leverage ratio and minimum interest coverage ratio for certain quarters, and establishes a new maximum secured leverage ratio of 3.50 to 1.00. Additionally, certain subsidiaries were designated as guarantors, providing security interests in assets and pledging equity interests as collateral for the obligations. The changes also include modifications to negative covenants on liens, fundamental changes, indebtedness, and transfers of material assets.