Neogen refinances $550M debt: new $450M term loan and $250M revolver at lower rate

NEOGEN CORP

Refinanced $550M of existing term loan and revolver due 2027; new $450M term loan and $250M revolver mature Apr 2030.
Revolving facility upsized from $150M to $250M; initial $100M drawn; leverage-neutral transaction.
New interest rate: SOFR + 175 bps, 60 bps savings versus prior terms.
JPMorgan Chase acted as Administrative Agent and Joint Lead Arranger with four other banks.

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