---
schema_version: "secwatch.filing_event.v1"
accession: "0000821026-23-000104"
form_type: "8-K"
ticker: "ANDE"
cik: "0000821026"
company_name: "Andersons, Inc."
filed_at: "2023-04-06T23:59:59+00:00"
generated_at: "2026-06-17T05:30:07.954218+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# The Andersons enters $100M unsecured term loan facility to refinance debt

## Summary
- $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.

## SEC filing metadata
- accession: 0000821026-23-000104
- form_type: 8-K
- ticker: ANDE
- cik: 0000821026
- company_name: Andersons, Inc.
- filed_at: 2023-04-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/821026/000082102623000104/0000821026-23-000104-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/821026/000082102623000104/ande-20230403.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000821026-23-000104
- JSON: https://secwatch.observer/filing/0000821026-23-000104.json
- Plain text: https://secwatch.observer/filing/0000821026-23-000104.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/821026/000082102623000104/0000821026-23-000104-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/821026/000082102623000104/0000821026-23-000104-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.