FMC Corporation Executes $1.5 Billion Credit Agreement

FMC Corporation FMC announced today it has executed a new $1.5 billion unsecured credit agreement with a group of lenders. Loans under the facility can be used for general corporate purposes. The agreement has an option to increase the amount available to $2.25 billion and has a five-year term with the option to extend the maturity for up to an additional two years. The new credit facility replaces two existing unsecured credit agreements aggregating approximately $915 million that were scheduled to mature August 28, 2012. "This financing commitment is an important element in the implementation of our plan for the next five years, Vision 2015," said Pierre Brondeau, FMC's president, chief executive officer and chairman. "Together with FMC's strong balance sheet and significant cash flow, the new credit agreement gives us ample financial resources to grow our existing businesses, pursue external growth opportunities, and reward shareholders with additional liquidity through share repurchases and a growing dividend stream."