Phibro Animal Health gets needed consents from holders of 9¼% notes

By Jennifer Chiou

New York, Jan. 25 - Phibro Animal Health Corp. announced the successful conclusion of its consent solicitation to amend the indenture of its 9¼% senior notes due 2018.

The company obtained approval of proposed amendments to enable it to issue up to $25 million of additional notes, which would count against the existing limitations of permitted debt with respect to credit facilities under the indenture.

Phibro said it obtained consents from holders of a majority of the notes, and a supplemental indenture has been deemed effective.

The solicitation ended at 5 p.m. ET on Jan. 24.

Those who delivered consents received $1 per $1,000 principal amount of notes.

Bank of America Merrill Lynch (888 292-0070 or 980 388-4807) was the solicitation agent. Global Bondholder Services Corp. (212 430-3774 or 866 736-2200) was the information and tabulation agent.

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.

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