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CHS Inc. (NASDAQ:CHSCP), a company with a market capitalization of $374 million and annual revenues exceeding $36 billion, announced Friday it has amended two key financing agreements, according to a statement based on a recent SEC filing.
On Wednesday, CHS Inc. entered into the fifteenth amendment to its Amended and Restated Receivables Purchase Agreement, originally dated July 18, 2017. The amendment adds BBVA as a committed purchaser and purchaser agent and extends the term of the company’s receivables and loans securitization facility to August 26, 2026, unless ended earlier under the agreement’s terms. MUFG Bank, Ltd. continues as the administrative agent.
Also on Wednesday, CHS Inc. executed Omnibus Amendment No. 3 to its Master Framework Agreement, dated July 11, 2023, with Coöperatieve Rabobank U.A., New York Branch, and CHS Capital, LLC. This amendment extends the scheduled term of the company’s repurchase financing facility to August 26, 2026. The amendment also increases the funding limit of the facility from $200 million to $250 million.
Both amendments create direct financial obligations for CHS Inc. as outlined in the filing. The company maintains a current ratio of 1.4 and carries total debt of approximately $3.9 billion. InvestingPro subscribers can access detailed financial health metrics and debt analysis tools to better understand the company’s leverage position.
CHS Inc. is a Minnesota-based cooperative involved in wholesale farm product raw materials. The company’s preferred stock CHSCP offers an attractive dividend yield of 6.96%, with annual payments of $2.00 per share. Its preferred stock is traded on the Nasdaq Stock Market under several symbols, including CHSCP, CHSCO, CHSCN, CHSCM, and CHSCL.
This information is based on a press release statement contained in a Form 8-K filed with the Securities and Exchange Commission.
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