Mosaic to repay $150 million of term loan debt on Dec. 31

By Sara Rosenberg

New York, Dec. 21 - Mosaic Co. will prepay $150 million of term loans under its credit facility on Dec. 31, according to a news release.

The prepayment will consist of $56.4 million of term loan A-1 borrowings by Mosaic, $87.1 million of term loan B borrowings by Mosaic and $6.5 million of term loan A borrowings by its subsidiary, Mosaic Potash Colonsay ULC.

After the prepayment, the term loan A-1 will be reduced to $19.2 million, the term loan B will be reduced to $29.6 million and the term loan A will be reduced to $2.2 million.

"This prepayment reflects a very important milestone for Mosaic," said Jim Prokopanko, president and chief executive officer, in the release. "We have successfully prepaid $1 billion of long-term debt in the past eight months, and we've also established a strong financial base from which to grow."

Mosaic is a Plymouth, Minn., producer and marketer of concentrated phosphate and potash crop nutrients.

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