Neogen Announces Refinancing of Term Loan and Credit Facility, Extending Maturities and Reducing Interest Costs

Neogen Corporation has successfully refinanced its remaining $550 million term loan and revolving credit facility ahead of their August 2027 maturities. The new financing includes a $450 million term loan and a $250 million revolving credit facility, both maturing in April 2030. This move extends maturity timelines by more than two and a half years and increases the revolving credit capacity by $100 million.

With a new interest rate of SOFR plus 175 basis points—60 basis points lower than before—the transaction is leverage-neutral and provides greater balance sheet flexibility. JPMorgan Chase led the refinancing alongside BofA Securities, Citizens Bank, Goldman Sachs, and Wells Fargo.

Neogen’s CFO and COO David Naemura highlighted the deal as a strategic step to preserve liquidity, reduce financing costs, and support the company’s financial agility. Neogen continues to deliver food safety and animal health solutions across more than 140 countries.