Neogen® Announces Refinancing of Term Loan and Revolving Credit Facility
Neogen (NASDAQ: NEOG) has successfully refinanced its debt structure, including a $450 million term loan and an expanded $250 million revolving credit facility, both maturing in April 2030. This refinancing extends the previous maturity by over two and a half years from the original August 2027 date.
The transaction refinances the remaining $550 million principal of its original $650 million term loan and increases the revolving credit facility from $150 million to $250 million, with an initial draw of $100 million. The new facilities feature improved terms with interest at SOFR plus 175 basis points margin, representing a 60 basis point reduction.
JPMorgan Chase Bank led the refinancing as Administrative Agent and Joint Lead Arranger, alongside BofA Securities, Citizens Bank, Goldman Sachs Bank USA, and Wells Fargo Securities as additional Joint Lead Arrangers.
Neogen (NASDAQ: NEOG) ha rifinanziato con successo la propria struttura del debito, inclusi un prestito a termine di 450 milioni di dollari e una linea di credito revolving ampliata di 250 milioni di dollari, entrambi in scadenza ad aprile 2030. Questo rifinanziamento estende la scadenza precedente di oltre due anni e mezzo rispetto alla data originale di agosto 2027.
La transazione rifinanzia il restante capitale di 550 milioni di dollari del suo prestito a termine originale di 650 milioni di dollari e aumenta la linea di credito revolving da 150 milioni a 250 milioni di dollari, con un prelievo iniziale di 100 milioni di dollari. Le nuove strutture presentano condizioni migliorate con un interesse pari a SOFR più 175 punti base, rappresentando una riduzione di 60 punti base.
JPMorgan Chase Bank ha guidato il rifinanziamento in qualità di Agente Amministrativo e Joint Lead Arranger, insieme a BofA Securities, Citizens Bank, Goldman Sachs Bank USA e Wells Fargo Securities come ulteriori Joint Lead Arrangers.
Neogen (NASDAQ: NEOG) ha refinanciado con éxito su estructura de deuda, incluyendo un préstamo a plazo de 450 millones de dólares y una línea de crédito revolving ampliada de 250 millones de dólares, ambos con vencimiento en abril de 2030. Este refinanciamiento extiende el vencimiento anterior en más de dos años y medio desde la fecha original de agosto de 2027.
La transacción refinancia el capital restante de 550 millones de dólares de su préstamo a plazo original de 650 millones de dólares y aumenta la línea de crédito revolving de 150 millones a 250 millones de dólares, con un retiro inicial de 100 millones de dólares. Las nuevas instalaciones presentan condiciones mejoradas con un interés de SOFR más 175 puntos básicos, lo que representa una reducción de 60 puntos básicos.
JPMorgan Chase Bank lideró el refinanciamiento como Agente Administrativo y Joint Lead Arranger, junto con BofA Securities, Citizens Bank, Goldman Sachs Bank USA y Wells Fargo Securities como Joint Lead Arrangers adicionales.
Neogen (NASDAQ: NEOG)은 4억 5천만 달러 규모의 만기 대출과 2억 5천만 달러 규모의 확대된 회전 신용 시설을 포함하여 부채 구조를 성공적으로 재융자했습니다. 두 대출 모두 2030년 4월에 만기가 됩니다. 이번 재융자는 원래 2027년 8월의 만기일에서 2년 반 이상 연장됩니다.
이번 거래는 원래 6억 5천만 달러 규모의 대출에서 남은 5억 5천만 달러의 원금을 재융자하고, 회전 신용 시설을 1억 5천만 달러에서 2억 5천만 달러로 늘리며, 초기 인출액은 1억 달러입니다. 새로운 시설은 SOFR에 175 베이시스 포인트의 마진을 더한 개선된 조건을 제공하며, 이는 60 베이시스 포인트의 감소를 의미합니다.
JPMorgan Chase Bank는 BofA Securities, Citizens Bank, Goldman Sachs Bank USA 및 Wells Fargo Securities와 함께 행정 대리인 및 공동 주선자로서 재융자를 주도했습니다.
Neogen (NASDAQ: NEOG) a réussi à refinancer sa structure de dette, y compris un prêt à terme de 450 millions de dollars et une ligne de crédit revolving élargie de 250 millions de dollars, les deux arrivant à échéance en avril 2030. Ce refinancement prolonge l'échéance précédente de plus de deux ans et demi par rapport à la date originale d'août 2027.
La transaction refinance le capital restant de 550 millions de dollars de son prêt à terme original de 650 millions de dollars et augmente la ligne de crédit revolving de 150 millions à 250 millions de dollars, avec un tirage initial de 100 millions de dollars. Les nouvelles installations présentent des conditions améliorées avec un intérêt de SOFR plus 175 points de base, représentant une réduction de 60 points de base.
JPMorgan Chase Bank a dirigé le refinancement en tant qu'Agent Administratif et Joint Lead Arranger, aux côtés de BofA Securities, Citizens Bank, Goldman Sachs Bank USA et Wells Fargo Securities en tant que Joint Lead Arrangers supplémentaires.
Neogen (NASDAQ: NEOG) hat erfolgreich seine Schuldenstruktur refinanziert, einschließlich eines Terminkredits über 450 Millionen Dollar und einer erweiterten revolvierenden Kreditlinie über 250 Millionen Dollar, die beide im April 2030 fällig werden. Diese Refinanzierung verlängert die vorherige Fälligkeit um mehr als zweieinhalb Jahre gegenüber dem ursprünglichen Datum im August 2027.
Die Transaktion refinanziert das verbleibende Kapital von 550 Millionen Dollar seines ursprünglichen Terminkredits über 650 Millionen Dollar und erhöht die revolvierende Kreditlinie von 150 Millionen auf 250 Millionen Dollar, mit einer anfänglichen Inanspruchnahme von 100 Millionen Dollar. Die neuen Einrichtungen bieten verbesserte Bedingungen mit einem Zinssatz von SOFR plus 175 Basispunkten, was eine Reduzierung um 60 Basispunkte darstellt.
JPMorgan Chase Bank führte die Refinanzierung als Verwaltungsagent und Joint Lead Arranger an, zusammen mit BofA Securities, Citizens Bank, Goldman Sachs Bank USA und Wells Fargo Securities als zusätzliche Joint Lead Arranger.
- Secured lower interest rate with 60 basis points reduction
- Extended debt maturity by 2.5+ years to April 2030
- Increased revolving credit facility from $150M to $250M
- Maintained current liquidity position
- Improved balance sheet flexibility
- Maintains substantial debt level with $450M term loan
- Initial draw of $100M on revolving credit facility adds to debt burden
The new
JPMorgan Chase Bank, N.A. served as Administrative Agent and Joint Lead Arranger for the refinancing, with BofA Securities, Inc., Citizens Bank, N.A., Goldman Sachs Bank
“We are pleased to complete this refinancing, which not only maintains our current liquidity position and extends the maturity of the term loan and revolving credit facility, but also results in a lower interest rate,” said David Naemura, Chief Financial Officer and Chief Operating Officer of Neogen. “The new term loan and revolving credit facility provide us with additional balance sheet flexibility, and we appreciate the support of our entire bank group throughout the process.”
About Neogen
Neogen Corporation is committed to fueling a brighter future for global food security through the advancement of human and animal well-being. Harnessing the power of science and technology, Neogen has developed comprehensive solutions spanning the Food Safety, Livestock, and Pet Health & Wellness markets. A world leader in these fields, Neogen has a presence in over 140 countries with a dedicated network of scientists and technical experts focused on delivering optimized products and technology for its customers.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250407239623/en/
Bill Waelke
(517) 372-9200
ir@neogen.com
Source: Neogen Corporation
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