Balchem Corp Amends Credit Facility; Revolver Increased to $650M

What Happened
Balchem Corporation filed an 8-K dated July 24, 2026 reporting an amendment to its Amended and Restated Credit Agreement. The amendment increases the aggregate revolving commitment from $550 million to $650 million, extends the facility maturity from July 27, 2027 to July 24, 2031, and permits its foreign subsidiary Balchem B.V. to borrow under the facility. The amendment also removes a 10 basis-point adjustment to the applicable SOFR rate and trims margins at higher leverage tiers.

Key Details

• Revolving commitment increased from $550M to $650M; maturity extended to July 24, 2031.
• Foreign borrower (Balchem B.V.) is now permitted to borrow under the facility.
• Eliminated a 10 basis-point SOFR adjustment and reduced margins (Tier 3 and Tier 4 reduced by 12.5 bps).
• Pricing is set quarterly based on Consolidated Net Leverage Ratio (determined as of the last day of the prior fiscal quarter):
  • Tier 1 (<1.00:1.00): Term/RFR/LOC fee = 1.00%; Base Rate = 0.00%
  • Tier 2 (≥1.00 but <2.00): Term/RFR/LOC fee = 1.125%; Base Rate = 0.125%
  • Tier 3 (≥2.00 but <3.00): Term/RFR/LOC fee = 1.250%; Base Rate = 0.250%
  • Tier 4 (≥3.00): Term/RFR/LOC fee = 1.500%; Base Rate = 0.500%
• Balchem and its domestic guarantors executed an Omnibus Reaffirmation and Amendment Agreement reaffirming the existing Security and Pledge Agreement and related liens.

Why It Matters
For investors, the amendment means more committed liquidity (an extra $100M) and a longer runway before the credit facility matures, reducing near-term refinancing risk. The removal of the SOFR adjustment and lower margins at higher leverage levels can modestly lower borrowing costs when Balchem draws on the revolver. Allowing the foreign subsidiary to borrow increases operational flexibility. The reaffirmation of security preserves the lenders’ collateral protections under the existing pledge agreement.