Phibro Animal Health Corp Files 8-K on Definitive Agreement

TL;DR

Phibro Animal Health just signed a big deal, filing an 8-K to let everyone know.

AI Summary

On July 9, 2024, Phibro Animal Health Corporation entered into a Material Definitive Agreement related to a direct financial obligation. The company, incorporated in Delaware, filed this 8-K report to disclose this event. Further details regarding the specific nature of the agreement and its financial implications are expected to be provided.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Phibro Animal Health, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and direct financial obligations can introduce new financial risks or opportunities that require careful evaluation.

Key Players & Entities

• Phibro Animal Health Corporation (company) — Registrant
• July 9, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation

FAQ

Key Financial Figures

• $0.0001 — hich registered Class A Common Stock, $0.0001 par value per share PAHC NASDAQ Sto
• $162,000,000 — ial aggregate principal amount equal to $162,000,000 (the "Initial Term A-1 Loans"), (ii) De
• $189,000,000 — ial aggregate principal amount equal to $189,000,000 (the "Delayed Draw Term A-1 Loans" and,
• $138,000,000 — ial aggregate principal amount equal to $138,000,000 (the "Initial Term A-2 Loans"), (iv) De
• $161,000,000 — ial aggregate principal amount equal to $161,000,000 (the "Delayed Draw Term A-2 Loans" and,
• $310,000,000 — n initial aggregate principal amount of $310,000,000 (the "Revolving Credit Commitments" and
• $300,000,000 — mpany's interest rate swap agreement on $300,000,000 of notional principal that effectively

Filing Documents

• tm2419097d1_8k.htm (8-K) — 44KB
• tm2419097d1_ex10-1.htm (EX-10.1) — 1221KB
• 0001104659-24-078557.txt ( ) — 1711KB
• pahc-20240709.xsd (EX-101.SCH) — 3KB
• pahc-20240709_lab.xml (EX-101.LAB) — 33KB
• pahc-20240709_pre.xml (EX-101.PRE) — 22KB
• tm2419097d1_8k_htm.xml (XML) — 4KB

01 ENTRY

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT. On July 3, 2024 (the "Effective Date"), Phibro Animal Health Corporation (the "Company"), together with certain of its subsidiaries acting as guarantors (the "Guarantors"), entered into a Credit Agreement, dated as of July 3, 2024 (the "Credit Agreement"), by and among the Company, the Guarantors, Coperatieve Rabobank U.A., New York Branch ("Rabobank"), as Administrative Agent, Collateral Agent and Letter of Credit Issuer, and each lender party thereto (the "Lenders"). Under the Credit Agreement, the Lenders agreed to extend credit to the Company in the form of (i) Initial Term A-1 Loans in an initial aggregate principal amount equal to $162,000,000 (the "Initial Term A-1 Loans"), (ii) Delayed Draw Term A-1 Loans in an initial aggregate principal amount equal to $189,000,000 (the "Delayed Draw Term A-1 Loans" and, together with the Initial Term A-1 Loans, the "Term A-1 Loans") (iii) Initial Term A-2 Loans in an initial aggregate principal amount equal to $138,000,000 (the "Initial Term A-2 Loans"), (iv) Delayed Draw Term A-2 Loans in an initial aggregate principal amount equal to $161,000,000 (the "Delayed Draw Term A-2 Loans" and, together with the Initial Term A-2 Loans, the "Term A-2 Loans"), and (v) Revolving Credit Commitments in an initial aggregate principal amount of $310,000,000 (the "Revolving Credit Commitments" and, together with Term A-1 Loans and Term A-2 Loans, the "Credit Facilities"). The Credit Facilities were used to refinance all of the Term A loans and the revolving credit facility under the Amended and Restated Credit Agreement, dated as of April 22, 2021 (the "Existing Credit Agreement"), by and among the Company, the guarantors party thereto, Bank of America, N.A. as administrative agent, collateral agent and letter of credit issuer, and each lender party thereto, to pay fees and expenses of the transaction, and for ongoing working capital requirements and general corporate purposes.

03 CREATION

ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT. As discussed in Item 1.01 above, on July 3, 2024, the Company, the Guarantors, Rabobank and the Lenders entered into the Credit Agreement, which provides for the Credit Facilities. The description of the material terms of the Credit Agreement in Item 1.01 is incorporated by reference in this Item 2.03, and is qualified in its entirety by reference to the full text of the Credit Agreement, a copy of which is attached hereto as Exhibit 10.1, and is incorporated by reference herein. The information set forth under Item 1.01 of this report is incorporated herein by reference .

01 FINANCIAL STATEMENTS

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS. (d) Exhibits Exhibit Number Description 10.1 Credit Agreement, dated July 3, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. PHIBRO ANIMAL HEALTH CORPORATION Registrant Date: July 9, 2024 By: /s/ Judith Weinstein Name: Judith Weinstein Title: Senior Vice President, General Counsel and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR