AMERICAN VANGUARD CORP (AVD): debt financing — American Vanguard enters $285M term loan facility to refinance existing debt

AMERICAN VANGUARD CORP

New $225M first lien term loan at SOFR+8.25% (or Base+7.25%) with step-downs; $60M second lien at SOFR+2.00% (3.00% floor).
Maturity March 13, 2031; quarterly principal payments: first lien 0.25% (starting June 30, 2026), second lien 2.50% (starting Sep 30, 2027).
Proceeds used to fully retire existing $216.5M Prior Credit Agreement; ~$68.5M earmarked for general corporate and working capital.
Covenants include minimum liquidity and maximum first lien leverage ratio; appointment of independent directors and board reduction to 7 members required.
Prior credit agreement terminated without early termination penalties.

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

AMERICAN VANGUARD CORP incurred term loan of $60 million with BMO Bank N.A. at SOFR-based rate plus an applicable margin of 2.00% per annum, subject to a SOFR maturing March 13, 2031.

Instrument: term loan
Principal: $60 million
Counterparty: BMO Bank N.A.
Rate: SOFR-based rate plus an applicable margin of 2.00% per annum, subject to a SOFR
Maturity: March 13, 2031
Event: incurrence

Exact text from the filing

of the Company, including AMVAC. Second Lien Term Loan The Second Lien Term Loan is a secured term loan facility with a five year term for an aggregate principal amount of $60 million. The Second Lien Term Loan contains customary representations and warranties, affirmative and negative covenants and events of default for financings of this type. AMVAC is

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

AMERICAN VANGUARD CORP incurred term loan of $225 million with Centerbridge Partners, L.P. at SOFR-based rate plus an applicable margin initially equal to 8.25% per annum maturing March 13, 2031.

Instrument: term loan
Principal: $225 million
Counterparty: Centerbridge Partners, L.P.
Rate: SOFR-based rate plus an applicable margin initially equal to 8.25% per annum
Maturity: March 13, 2031
Event: incurrence

Exact text from the filing

permitted under the Term Loans. First Lien Term Loan The First Lien Term Loan is a senior secured term loan facility with a five year term for an aggregate principal amount of $225 million. The First Lien Term Loan contains customary representations and warranties, affirmative and negative covenants and events of default for financings of this type. AMVAC is

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

AMERICAN VANGUARD CORP entered into Credit and Guaranty Agreement (First Lien Term Loan) with Centerbridge Partners, L.P. and Wilmington Trust, National Association valued at $225 million senior secured term loan facility (effective 2026-03-13).

Action: entry
Agreement: credit facility
Counterparty: Centerbridge Partners, L.P. and Wilmington Trust, National Association
Value: $225 million senior secured term loan facility
Effective: 2026-03-13

Exact text from the filing

On March 13, 2026, AMVAC Chemical Corporation (“AMVAC”), a subsidiary of American Vanguard Corporation (the “Company”), as borrower, and certain affiliates of the Company (including the Company), as guarantors, entered into (i) a Credit and Guaranty Agreement (the “First Lien Term Loan”) with a group of commercial lenders led by Centerbridge Partners, L.P., and Wilmington Trust, National Association as administrative agent

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

AMERICAN VANGUARD CORP terminated Third Amended and Restated Credit Agreement with Not specified valued at Termination of Prior Credit Agreement, retirement of all outstanding loans using proceeds from Term (effective 2026-03-13).

Action: termination
Agreement: credit facility
Counterparty: Not specified
Value: Termination of Prior Credit Agreement, retirement of all outstanding loans using proceeds from Term
Effective: 2026-03-13

Exact text from the filing

On March 13, 2026, AMVAC, as borrower, and certain affiliates (including the Company), as guarantors and/or borrowers, terminated the Prior Credit Agreement concurrently with its entry into the Term Loans (as more fully described in Item 1.01, which is incorporated by reference herein)

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Source: SEC EDGAR

accession 0001193125-26-115049

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