Company: CF
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001324404-25-000015
Chunk: 54

Company: CF Industries Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 54
---
 equal to, at our option, an applicable adjusted term Secured Overnight Financing Rate or base rate plus, in either case, a specified margin. We are required to pay an undrawn commitment fee on the undrawn portion of the commitments under the Revolving Credit Agreement and customary letter of credit fees. The specified margin and the amount of the commitment fee depended on CF Holdings’ credit rating at the time.As of March 31, 2025, we had unused borrowing capacity under the Revolving Credit Agreement of $750 million and no outstanding letters of credit under the Revolving Credit Agreement. In addition, there were no borrowings outstanding under the Revolving Credit Agreement as of December 31, 2024, or during the three months ended March 31, 2025 or 2024. The Revolving Credit Agreement contains representations and warranties and affirmative and negative covenants, including a financial covenant. As of March 31, 2025, we were in compliance with all covenants under the Revolving Credit Agreement. Letters of Credit Under Bilateral AgreementWe are party to a bilateral agreement providing for the issuance of up to $425 million of letters of credit. As of March 31, 2025, approximately $324 million of letters of credit were outstanding under this agreement.

12

Table of ContentsCF INDUSTRIES HOLDINGS, INC. 

Senior NotesLong-term debt presented on our consolidated balance sheets as of March 31, 2025 and December 31, 2024 consisted of the following debt securities issued by CF Industries:  Effective Interest RateMarch 31, 2025December 31, 2024 Principal OutstandingCarrying Amount(1)Principal OutstandingCarrying Amount(1)(in millions)Public Senior Notes:5.150% due March 20345.293%$750 $742 $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%750 747 750 746 Total long-term debt$3,000 $2,972 $3,000 $2,971 _______________________________________________________________________________(1)Carrying amount is net of unamortized debt discount and deferred debt issuance costs. Total unamortized debt discount was $