Company: CF
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001324404-25-000030
Chunk: 48

Company: CF Industries Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 48
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 September 30, 2025. There were no borrowings outstanding under the Prior Credit Agreement as of December 31, 2024, or during the nine months ended September 30, 2025 or 2024. 

Letters of Credit Under Bilateral Agreement

We are party to a bilateral agreement providing for the issuance of up to $425 million of letters of credit. As of September 30, 2025, approximately $334 million of letters of credit were outstanding under this agreement.

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Table of ContentsCF INDUSTRIES HOLDINGS, INC. 

Senior Notes

Long-term debt presented on our consolidated balance sheets as of September 30, 2025 and December 31, 2024 consisted of the following debt securities issued by CF Industries:

 Effective Interest RateSeptember 30, 2025December 31, 2024 Principal OutstandingCarrying Amount(1)Principal OutstandingCarrying Amount(1)(in millions)Public Senior Notes:5.150% due March 20345.293%$750 $743 $750 $742 4.950% due June 20435.040%750 742 750 742 5.375% due March 20445.478%750 741 750 741 Senior Secured Notes:4.500% due December 2026(2)4.783%750 748 750 746 Total long-term debt$3,000 $2,974 $3,000 $2,971 

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(1)Carrying amount is net of unamortized debt discount and deferred debt issuance costs. Total unamortized debt discount was $5 million and $6 million as of September 30, 2025 and December 31, 2024, respectively, and total deferred debt issuance costs were $21 million and $23 million as of September 30, 2025 and December 31, 2024, respectively.

(2)Effective August 23, 2021, these notes are no longer secured, in accordance with the terms of the applicable indenture.

Under the indentures (including the applicable supplemental indentures) governing the senior notes due 2034, 2043 and 2044 (the Public Senior Notes) and the 4.500% senior secured notes due December 2026 (the 2026 Notes), each series of notes is guaranteed by CF Holdings.