CF · 10-Q · 2026Q2 · Full report

Outstanding Indebtedness

CF Industries Holdings, Inc. · 2026-08-06 · Importance 49 · Surprise 6 · From source text

Long-term debt principal outstanding was $3.25 billion at June 30, 2026, with a carrying amount of $3.216 billion, essentially unchanged from December 31, 2025. The debt consists of public senior notes due in 2034, 2035, 2043 and 2044, with stated rates ranging from 4.950% to 5.375%. The company had no borrowings under its $750 million revolving credit facility during the first six months of 2026 or at December 31, 2025. Approximately $328 million of letters of credit were outstanding under a separate $425 million reimbursement agreement, primarily supporting Canadian tax matters.

Key facts

• November 2025 issuance of $1 billion aggregate principal amount of 5.300% senior notes due 2035 and December 2025 prepayment in full of $750 million aggregate principal amount of 4.500% senior secured notes due 2026. source
• The Revolving Credit Agreement provides for revolving commitments of up to $750 million with a maturity of September 4, 2030, including a letter of credit sub-limit of $125 million and a swingline loan sub-limit of $75 million. source
• Interest expense Jan–Jun 2026: $89 million vs $73 million in prior year; increase of $16 million due primarily to higher interest on tax liabilities and higher outstanding principal amounts of senior notes partially offset by higher capitalized interest. source
• As of June 30, 2026, we were in compliance with all applicable covenant requirements under our revolving credit agreement and senior notes, and unused borrowing capacity under our revolving credit agreement was $750 million. source
• Interest expense Q2 2026: $50 million vs $36 million in Q2 2025; increase of $14 million due primarily to higher interest on tax liabilities and higher outstanding principal amounts of senior notes, partially offset by higher capitalized interest. source
• The Blue Point One joint venture is a variable interest entity (VIE) of which CF Industries is the primary beneficiary and is consolidated with the combined 60% equity interest owned by JERA and Mitsui recorded as noncontrolling interests. source
• Long-term debt principal outstanding totaled $3,250 million as of June 30, 2026 and as of December 31, 2025. source
• As of June 30, 2026, approximately $328 million of letters of credit were outstanding under a reimbursement agreement that provides for issuance of up to $425 million of letters of credit. source

Impact estimates