Phibro Animal Health entered into a credit agreement with Bank of America as administrative agent for a $250 million term A loan and a $250 million revolving credit facility.

According to a related 8-K filing, the full amount of the term A loans were drawn at closing and $64.1 million of the revolving credit facility was drawn.

The credit facilities replaced the company’s previous revolving credit facility and term B loan. The company used amounts borrowed at closing under the credit facilities to retire amounts outstanding under the company’s previous revolving credit facility and term B loan and to pay fees and expenses of the transaction. The company expects its consolidated statements of operations for the three months and year ending June 30, 2017, to include a loss on extinguishment of debt of approximately $2.5 million, in connection with the repayment of the previous credit facilities.

The credit facilities mature on June 29, 2022.

Bank of America was administrative agent, collateral agent and l/c issuer. Merrill Lynch and Rabobank New York Branch, were joint lead arrangers and joint bookrunners. Rabobank was syndication agent.