Darling Ingredients amends credit agreement to freeze cap on leverage

By Angela McDaniels

Tacoma, Wash., May 15 – Darling Ingredients Inc. amended its credit agreement on Wednesday to remove the step-down of the cap on the company’s total leverage ratio, according to an 8-K filing with the Securities and Exchange Commission.

Following the amendment, the maximum total leverage ratio will remain 5 to 1 for the duration of the loans under the credit agreement.

The company paid a 0.05% amendment fee.

JPMorgan Chase Bank, NA is the administrative agent.

Irving, Texas-based Darling makes specialty ingredients for the pharmaceutical, food, pet food, feed, technical, fuel, bioenergy and fertilizer industries and provides fat rendering, recycling and recovery solutions to the food industry.

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