Andersons, Inc. (ANDE): debt financing — The Andersons enters $100M unsecured term loan facility to refinance debt

Andersons, Inc.

$100M unsecured term loan with Farm Credit Mid-America, PCA; 8-year maturity.
Variable interest rate based on SOFR plus 1.675% (Term SOFR) or 0.675% (Base Rate).
Proceeds: ~$50M to repay current maturities of long-term debt; remainder to reduce line of credit borrowings.
Quarterly principal and interest payments; loan agreement includes customary covenants and events of default.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Andersons, Inc. incurred term loan of $100 million with Farm Credit Mid-America, PCA at SOFR plus an applicable spread maturing 8-year loan.

Instrument: term loan
Principal: $100 million
Counterparty: Farm Credit Mid-America, PCA
Rate: SOFR plus an applicable spread
Maturity: 8-year loan
Event: incurrence

Exact text from the filing

On April 3, 2023, The Andersons, Inc. entered into an unsecured Term Loan Agreement (the "Loan Agreement") with Farm Credit Mid-America, PCA, as Administrative Agent. The Loan Agreement provides for an 8-year loan in the amount of $100 million

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Andersons, Inc. entered into Loan Agreement with Farm Credit Mid-America, PCA valued at $100 million (effective 2023-04-03).

Action: entry
Agreement: credit facility
Counterparty: Farm Credit Mid-America, PCA
Value: $100 million
Effective: 2023-04-03

Exact text from the filing

On April 3, 2023, The Andersons, Inc. entered into an unsecured Term Loan Agreement (the "Loan Agreement") with Farm Credit Mid-America, PCA, as Administrative Agent.

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26 debt financings filed in the last 30 days. Browse all debt financings →

Andersons, Inc. filing history →

Source: SEC EDGAR

accession 0000821026-23-000104

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