Mosaic amends loan to up allowable debt for foreign subsidiaries

By Sara Rosenberg

New York, Dec. 19 - The Mosaic Co. amended its $850 million senior secured credit facility, increasing the amount of indebtedness that may be incurred by foreign subsidiaries, expanding the ability to sell foreign receivables and increasing the maximum permissible amount of investments in foreign subsidiaries, according to an 8-K filed with the Securities and Exchange Commission Monday.

In addition, the amendment expanded permissible investments in joint ventures, increased the permissible amount of capital leases, increased the maximum permissible amount of other investments and updated certain representations.

The amendment was completed on Dec. 13.

JPMorgan is the administrative agent on the deal.

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

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