Andersons returns for another $200 million on short-term note

Chicago, March 10 – Andersons, Inc. amended its credit agreement with U.S. Bank NA as administrative agent on March 9 to increase its incremental short-term loan to $450 million from $250 million, according to an 8-K filing with the Securities and Exchange Commission.

The company only announced on Tuesday that it had signed for the incremental $250 million short-term loan due May 31.

The term note will bear interest at variable rates, which are based on an alternative base rate plus 37.5 basis points minus 175 bps.

U.S. Bank NA and Farm Credit Mid-America, PCA agreed to provide the funds, each contributing half of the $200 million amount.

Andersons is a Maumee, Ohio-based diversified company with interests in the grain, ethanol and plant nutrient sectors as well as in railcar leasing and repair, turf products production and general merchandise retailing.

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