DuPont 2015 Annual Report Download - page 123
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E. I. du Pont de Nemours and Company
Notes to the Consolidated Financial Statements (continued)
(Dollars in millions, except per share)
F-64
24. SUBSEQUENT EVENTS
On February 3, 2016, the company entered into a committed receivable repurchase agreement of up to $1,000 (the repurchase
facility) that expires on November 30, 2016. Under the repurchase facility, the company may sell a portfolio of available and
eligible outstanding customer notes receivables within the Agriculture segment to participating institutions and simultaneously
agree to repurchase at a future date. The repurchase facility is considered a secured borrowing with the customer notes receivables,
inclusive of those that are sold and repurchased, equal to 105% of the outstanding amounts borrowed utilized as collateral.
Borrowings under the repurchase facility will have an interest rate of LIBOR + 0.75%.