Elanco borrows $500 million incremental term loan for note repayment

Chicago, Aug. 12 – Elanco Animal Health Inc. received a $500 million incremental term loan from Farm Credit Mid-America, PCA as incremental term lender on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

Goldman Sachs Bank USA is the term facility agent.

The incremental agreement supplements and amends the senior secured credit facility dated Aug. 1, 2020.

Proceeds from the term loan will be used to repay the company’s 3.912% senior notes due Aug. 27.

The new term loan matures Aug. 12, 2028. The terms, including the interest rate and repayment terms, are generally consistent with the terms of the company’s existing term loan under the credit agreement.

The margin is Libor plus 175 basis points.

Elanco is a Greenfield, Ind.-based animal health company that develops products and knowledge services to prevent and treat disease in food animals and pets.

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