Company: CF
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001324404-25-000006
Chunk: 129

Company: CF Industries Holdings, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 129
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, 2024, we were in compliance with all covenants under the Revolving Credit Agreement. 

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Table of ContentsCF INDUSTRIES HOLDINGS, INC.

The Revolving Credit Agreement contains events of default (with notice requirements and cure periods, as applicable) customary for a financing of this type, including, but not limited to, non-payment of principal, interest or fees; inaccuracy of representations and warranties in any material respect; and failure to comply with specified covenants. Upon the occurrence and during the continuance of an event of default under the Revolving Credit Agreement and after any applicable cure period, subject to specified exceptions, the administrative agent may, and at the request of the requisite lenders is required to, accelerate the loans under the Revolving Credit Agreement or terminate the lenders’ commitments under the Revolving Credit Agreement.

As of December 31, 2024, we had unused borrowing capacity under the Revolving Credit Agreement of $750 million and no outstanding letters of credit under the Revolving Credit Agreement. As of December 31, 2024 and 2023, and during the years then ended, there were no borrowings outstanding under the Revolving Credit Agreement. 

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 December 31, 2024, approximately $324 million of letters of credit were outstanding under this agreement.

Senior Notes

Long-term debt presented on our consolidated balance sheets as of December 31, 2024 and 2023 consisted of the following debt securities issued by CF Industries:  

 Effective Interest RateDecember 31, 2024December 31, 2023Principal OutstandingCarrying Amount(1)Principal OutstandingCarrying Amount(1) (in millions)Public Senior Notes:5.150% due March 20345.293%$750 $742 $750 $741 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%750 746 750 744 Total long-term debt$3,000 $2,971 $3,000 $2,968 

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(1)Carrying amount is net of unamortized