Darling Ingredients amendment adds $800 million of delayed-draw loans

By Sara Rosenberg

New York, Sept. 8 – Darling Ingredients Inc. amended its credit agreement, adding a $300 million delayed-draw for 12 months term loan A-3 due Dec. 9, 2026 and a $500 million delayed-draw for 12 months term loan A-4 due Dec. 9, 2026, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

CoBank and JPMorgan Chase Bank acted as the joint lead arrangers on the term loan A-3, with CoBank the sole bookrunner. JPMorgan, Bank of America, Bank of Montreal, BNP Paribas, Citibank and PNC Capital Markets acted as the joint lead arrangers on the term loan A-4. JPMorgan is the administrative agent.

Pricing on the term loan A-3 can range from SOFR plus 150 basis points to 212.5 bps, based on total leverage, with a 0% floor, and pricing on the term loan A-4 can range from SOFR plus 100 bps to 200 bps, based on total leverage, with a 0% floor.

Proceeds from the term loans will provide the company with additional liquidity for strategic growth opportunities that may arise in the future.

The amendment was effective on Sept. 6.

Darling Ingredients is an Irving, Tex.-based company that turns food waste into sustainable products and produces renewable energy.

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