PLYMOUTH, Minn., July 29 /PRNewswire-FirstCall/ -- The Mosaic Company (NYSE: MOS) announced today 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 Chief Financial Officer.
About The Mosaic Company
The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single source provider of phosphates and potash fertilizers and feed ingredients for the global agriculture industry. More information on the company is available at www.mosaicco.com.
SOURCE The Mosaic Company
