Andersons (NASDAQ: ANDE) extends key credit facilities, trims revolver

Rhea-AI Filing Summary

The Andersons, Inc. amended its main credit agreement on March 20, 2026, reducing the revolving credit facility from $1.55 billion to $1.30 billion while extending the revolver’s maturity to March 20, 2031. The company also extended the maturity of its existing $114.3 million term loan to the same 2031 date.

In addition, a $170.1 million term loan under the credit agreement was combined with a separate $86.3 million Farm Credit Mid-America term loan into a single consolidated $256.4 million loan maturing on March 20, 2034. Borrowings will continue to bear interest at variable SOFR-based rates plus an applicable spread, so interest costs will move with short-term market rates.

Insights

Credit markets analyst

Andersons refinances core debt, trades some capacity for longer maturities.

The Andersons adjusted its capital structure by shrinking its revolving credit facility from $1.55 billion to $1.30 billion while pushing the revolver’s maturity out to 2031. This suggests the company is comfortable operating with slightly less committed liquidity in exchange for longer-term funding certainty.

The amendment also extends a $114.3 million term loan to 2031 and consolidates two term loans totaling $256.4 million into a single facility maturing in 2034. That simplifies the debt stack and smooths the maturity profile, but all borrowings remain tied to SOFR plus a spread, so the company stays exposed to interest rate movements.

Overall, this looks like a balance-sheet management step rather than a directional bet. It locks in longer tenors and modestly reduces available revolver capacity; the net effect on financial flexibility will depend on how much of the facility is typically drawn in future operating periods.

0000821026false00008210262026-03-202026-03-20

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

______________________

FORM 8-K

______________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): March 20, 2026

__________________________________________

The Andersons, Inc.

__________________________________________

(Exact name of registrant as specified in its charter)

Ohio

000-20557

34-1562374

(State of incorporation or organization)

(Commission File Number)

(I.R.S. Employer Identification No.)

1947 Briarfield Boulevard

Maumee, Ohio 43537

(Address of principal executive offices) (Zip Code)

(419) 893-5050

(Registrant’s telephone number, including area code)

__________________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[☐] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[☐] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[☐] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[☐] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

__________________________________________

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:

Trading Symbol

Name of each exchange on which registered:

Common stock, $0.00 par value, $0.01 stated value

ANDE

The NASDAQ Stock Market LLC

__________________________________________

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

[☐] Emerging growth company

[☐] If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 1.01 Entry into a Material Definitive Agreement

On March 20, 2026, The Andersons, Inc. (the "Company") completed an amendment (the "Amendment") to its Credit Agreement dated January 11, 2019, with U.S. Bank National Association, as Administrative Agent. The Amendment reduces the capacity of the revolving credit facility from $1.55 billion to $1.30 billion and extends the revolving facility's maturity date to March 20, 2031.

The Amendment also extends the maturity date of the Company's existing $114.3 million term loan to March 20, 2031.

In addition, the Amendment combines the Company's $170.1 million term loan under the Credit Agreement with its $86.3 million term loan dated April 3, 2023 with Farm Credit Mid-America, as Administrative Agent, into a single consolidated $256.4 million loan, and extends the maturity date of the combined loan to March 20, 2034.

Borrowings under the Credit Agreement will continue to bear interest at variable rates based on the Secured Overnight Financing Rate ("SOFR") plus an applicable spread.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

The information contained in Item 1.01 is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits:

Exhibit No.						Description
10.1						Credit Agreement dated as of January 11, 2019 among The Andersons, Inc., the lenders, U.S. Bank National Association, as Administrative Agent (Amended as of March 20, 2026)
104						Inline XBRL for the cover page of this Current Report on Form 8-K

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

						The Andersons, Inc.
March 25, 2026						By:			/s/ Brian A. Valentine
									Brian A. Valentine
									Executive Vice President and Chief Financial Officer

Filing Exhibits & Attachments

5 documents

Agreements & Contracts

• EX-10.1 EX-10.1 1.2 MB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 2.0 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT 3.6 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 24.6 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 14.2 KB