FMC Amends Credit Agreement to Clear India Unit Sale, Waives Covenant Defaults
FMC is trading near its 52-week low of $4.82 (3.7% above the low) on elevated volume (1.8× avg).
Summary
FMC amended its credit agreement to release liens and guarantors tied to the pending India business sale and to waive two already-missed covenant deadlines. Net India proceeds must go to debt paydown or working capital, and the releases unwind if the sale doesn't close by December 31, 2026.
Key Events · Financing and Capital Events · FMC
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Lenders Waive Missed Covenant Deadlines
Required Lenders waived the New US LLC guarantor/security requirement (deadline expired ~August 15, 2026) and the New Dutch BV intercompany subordination joinder (expired ~July 28, 2026), plus any Default arising from those failures.
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India Sale Proceeds Earmarked for Debt
New Section 6.04(q) requires net cash proceeds from the FMC India Disposition to repay Credit Agreement debt and/or fund general corporate and working capital needs, with officer certification on request.
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Liens and Guarantors Released Conditionally
Releases cover FMC India Equity, up to $25M of Contributed Cash, Cancelled Receivables, Reorganization Intercompany Claims, and guarantor status for New Dutch BV and New US LLC — effective immediately prior to the India sale closing.
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December 31, 2026 Deadline to Close
If the FMC India Disposition is not consummated by December 31, 2026, the equity lien release terminates, liens re-attach, and released guarantors are reinstated within 30 days.
Analysis · FMC · Industrial Applications And Services
FMC has secured lender sign-off on the mechanics of selling its India business: liens on the India equity and up to $25M of contributed cash will be released, two guarantors step out, and net proceeds must go to debt repayment or working capital. The more telling part is the waiver. FMC had already blown two covenant deadlines — guarantor/security grants and an intercompany subordination joinder — and the lenders are excusing the resulting default. That is a lender accommodation a company only needs when it is stretched, and it lands days after FMC guided Q3 revenue to just $65M-$125M with negative EBITDA. The India sale is now the near-term liquidity lever, with a hard December 31, 2026 deadline before the releases snap back.
How filings like this one have moved
In the 30 days to Oct 21, 2026, 28.9% of the 1511 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.54%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, FMC was trading at $5.00 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $782.4M. The 52-week trading range was $4.82 to $30.95. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.