Elanco get $175 million incremental term loan to pay down revolver

By Wendy Van Sickle

Columbus, Ohio, June 29 – Elanco Animal Health Inc. received a $175 million incremental term loan from Bank of America, NA as incremental term lender on Tuesday, according to an 8-K filing with the Securities and Exchange Commission.

Goldman Sachs Bank USA is the term facility agent.

The incremental agreement supplements and amends the senior secured credit facility dated Aug. 1, 2020.

Proceeds from the term loan will be used to repay revolver borrowings that are outstanding under the loan agreement.

The new term loan matures June 30, 2025. The terms, including the interest rate and repayment terms, are generally consistent with the terms of the company’s existing term loan under the credit agreement.

Elanco is a Greenfield, Ind.-based animal health company that develops products and knowledge services to prevent and treat disease in food animals and pets.

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