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THE MOSAIC COMPANY

(MOS)
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The Mosaic Company : Reports Refinancing of its Saudi Arabian Joint Venture

06/23/2020 | 11:19am EDT

The Mosaic Company (NYSE:MOS), reports that Ma'aden Wa'ad Al Shamal Phosphate Company (MWSPC), a subsidiary of Saudi Arabian Mining Company (Ma'aden) in which Mosaic holds a 25 percent interest, has completed the refinancing of its project level debt.

This refinancing marks MWSPC's transition to its operational financial structure as the joint venture completes its ramp up to full capacity. This refinancing:

Removes recourse to Mosaic by all lenders to MWSPC, and Defers principal paydown until June 30, 2022, enhancing expected free cash flow.

In addition, Mosaic's contractual commitment to make future cash contributions to MWSPC has now been eliminated.

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 phosphate and potash fertilizers and feed ingredients for the global agriculture industry. More information on the company is available at www.mosaicco.com.

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about anticipated future financial, production and operating performance. Such statements are based upon the current beliefs and expectations of The Mosaic Company's management and are subject to significant risks and uncertainties. These risks and uncertainties include, but are not limited to: the economic impact of coronavirus (COVID-19), difficulties with realization of the benefits of our strategic plans; actual costs of various items differing from management's current estimates, price and demand volatility for our Potash and Phosphate products, other changes in market conditions, changes in weather conditions; changes in farmers' planting patterns; accidents and disruptions, including potential mine fires, floods, explosions, seismic events, sinkholes or releases of hazardous or volatile chemicals; changes in foreign currency and exchange rates; international trade risks and other risks associated with Mosaic's international operations, changes in government policy, changes in environmental and other governmental regulation, as well as other risks and uncertainties reported from time to time in The Mosaic Company's reports filed with the Securities and Exchange Commission. Actual results may differ from those set forth in the forward-looking statements.

Contact:

Tel: 813-775-4206

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
SAUDI ARABIAN MINING COMPANY (MA'ADEN) -0.58% 68.6 End-of-day quote.69.38%
THE MOSAIC COMPANY 2.28% 31.16 Delayed Quote.32.51%
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Financials (USD)
Sales 2021 11 473 M - -
Net income 2021 1 238 M - -
Net Debt 2021 3 623 M - -
P/E ratio 2021 9,41x
Yield 2021 0,82%
Capitalization 11 580 M 11 580 M -
EV / Sales 2021 1,33x
EV / Sales 2022 1,32x
Nbr of Employees 12 617
Free-Float 87,9%
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Number of Analysts 22
Last Close Price 30,49 $
Average target price 38,95 $
Spread / Average Target 27,8%
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Managers and Directors
James Calvin O'Rourke President, Chief Executive Officer & Director
Clint C. Freeland Chief Financial Officer & Senior Vice President
Gregory Lorne Ebel Chairman
Emery N. Koenig Independent Director
Steven M. Seibert Independent Director
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