Pyxus enters into $100 million asset-based credit facility

By Wendy Van Sickle

Columbus, Ohio, Feb. 9 – Pyxus Holdings, Inc. entered into an asset-based credit facility for up to $100 million on Tuesday, according to an 8-K filed with the Securities and Exchange Commission.

There is a $20 million uncommitted accordion feature.

Availability depends on a borrowing base.

Borrowings bear interest at the Bloomberg Short-Term Bank Yield index rate plus 300 basis points, and there is a fee on unused commitments of 37.5 bps.

The facility matures on the earlier of Feb. 8, 2027 or 90 days prior to the earliest maturity of obligations owing under the exit term loan credit agreement dated Aug. 24, 2020 among Pyxus Holdings and Alter Domus (US) LLC as administrative agent and collateral agent and the indenture dated Aug. 24, 2020 among Pyxus Holdings and Wilmington Trust, NA as trustee.

PNC Bank, NA is the administrative agent.

Pyxus is a Morrisville, N.C.-based global agricultural company.

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