Farmer Bros. amends loan agreement pricing, reporting requirements

By Marisa Wong

Madison, Wis., March 5 - Farmer Bros. Co. entered into a third amendment to its amended and restated loan and security agreement dated Sept. 12, 2011 with Wells Fargo Bank, NA as agent to modify pricing for its loans, according to an 8-K filing with the Securities and Exchange Commission.

The applicable margin, based on monthly average excess availability, was amended to range from 175 basis points to 225 bps for Libor loans.

In addition, the company amended some collateral reporting requirements and frequency of field examinations by the lenders.

The amendment was completed Friday.

Farmer Bros. is a Torrance, Calif.-based direct distributor of coffee, tea and culinary products.

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