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
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| Date of Report (Date of Earliest Event Reported): | | November 14, 2019 |
The Andersons, Inc.
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(Exact name of registrant as specified in its charter)
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| Ohio | | 000-20557 | 34-1562374 |
_____________________ (State or other jurisdiction | _____________ (Commission | ______________ (I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
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| 1947 Briarfield Boulevard | | |
| Maumee | Ohio | | 43537 |
_________________________________ (Address of principal executive offices) | | ___________ (Zip Code) |
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| Registrant’s telephone number, including area code: | 419 | 893-5050 |
Not Applicable
_________________________________
Former name or former address, if changed since last report
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))
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.
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| 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 |
Item 1.01 Entry into a Material Definitive Agreement
Effective November 14, 2019, The Andersons Inc. (the "Company") entered into a Loan Agreement (the "Loan Agreement") with Metlife Real Estate Lending LLC, subject to the terms and conditions set forth in Exhibit 10.1, herein. The Loan Agreement provides for a 15-year loan in the amount of $105 million, of which $73 million was used to extinguish existing long-term debt. The remainder of the proceeds were used to pay down a portion of outstanding line of credit borrowings. The Loan Agreement is secured by first mortgages on certain real and personal property held by the Company and its subsidiaries. Borrowings under the Loan Agreement bear a fixed interest rate of 4.50% and payments of principal and interest will be made on a quarterly basis.
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.
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| Exhibit No. | | Description |
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| 10.1 | | |
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.
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| | | | | | The Andersons, Inc. |
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| Date: | November 18, 2019 | | By: | | /s/ Brian A. Valentine |
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| | | | | | Name: Brian A. Valentine |
| | | | | | Title: Senior Vice President and Chief Financial Officer |
| | | | | | (Principal Financial Officer) |
Exhibit Index
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| Exhibit No. | | Description |
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| 10.1 | | |
