Phibro plans $100 million revolver and $290 million secured term loan

By Susanna Moon

Chicago, March 10 - Phibro Animal Health Corp. plans to obtain a $100 million revolving credit facility and $290 million senior secured term loan facility, according to an S-1 filing with the Securities and Exchange Commission.

Some of the proceeds, along with proceeds of a stock offering, will be used to repay $300 million principal amount of 9¼% senior notes due July 1, 2018.

Proceeds also will be used to repay $24 million outstanding of a term loan due Dec. 31, 2016 payable to Mayflower LP with interest at 11% per year, $10 million of a term loan due Aug. 1, 2014 payable to BFI Co., LLC with interest at 12% and $32 million outstanding under Phibro's domestic senior credit facility.

Ridgefield Park, N.J.-based Phibro makes animal health and nutrition products for the poultry, swine, cattle and aquaculture markets as well as performance products for use in the ethanol, personal care, automotive, chemical catalyst and electronics markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.