Phibro Animal Health Corporation (NASDAQ:PAHC) Files An 8-K Entry into a Material Definitive Agreement

Item 1.01Entry Into a Material Definitive Agreement.

On December 23, 2016, Phibro Animal Health Corporation (the
Company) entered into Amendment No. 2 to the Credit
Agreement (Amendment No. 2 to Credit Agreement) with Bank
of America, N.A. (Bank of America) and Coperatieve
Rabobank U.A., New York Branch (f/k/a Coperatieve Centrale
Raiffeisen-Boerenleenbank, B.A., Rabobank Nederland, New York
Branch) (Rabobank), which amends the Credit Agreement,
dated as of April 16, 2014, among the Company, Bank of America,
as administrative agent, collateral agent and L/C issuer, and
each lender from time to time party thereto (the Original
Credit Agreement), as amended by Amendment No. 1, dated as of
January 19, 2016 (Amendment No. 1 to Credit Agreement and
together with Amendment No. 2 to Credit Agreement, the Credit
Agreement Amendments; the Original Credit Agreement as
amended by the Credit Agreement Amendments, the Amended Credit
Agreement).

to Amendment No. 2 to Credit Agreement, the Company has agreed to
increase the applicable interest rate it pays on the revolving
credit commitments available under its credit facility. In the
case of Eurodollar Rate Loans and LIBOR Daily Rate Floating Loans
(as each term is defined in the Original Credit Agreement), the
applicable rate increases from a rate ranging from (i) 2.75% per
annum to 2.50% per annum under the Original Credit Agreement to
(ii) 3.00% per annum to 2.50% per annum under the Amended Credit
Agreement. In the case of Base Rate Loans (as defined in the
Credit Agreement), the applicable rate increases from a rate
ranging from (i) 1.75% per annum to 1.50% per annum to (ii) 2.00%
per annum to 1.50% per annum. Determination of the applicable
rate is based on the Companys First Lien Net Leverage Ratio (as
defined in the Original Credit Agreement). In exchange for the
increase in interest rate, the Company is no longer required to
pay a quarterly fee to Bank of America and Rabobank.

The foregoing description of the Amendment No. 2 to Credit
Agreement does not purport to be complete and is qualified in its
entirety by reference to the Amendment No. 2 to Credit Agreement,
a copy of which has been filed as Exhibit 10.1 to this Current
Report and is incorporated in this Item 1.01 by reference, the
Original Credit Agreement, which was filed as Exhibit 10.1 on the
Companys Current Report on Form 8-K, filed April 23, 2014 and is
incorporated in this Item 1.01 by reference, and Amendment No. 1
to Credit Agreement which was filed as Exhibit 10.1 on the
Companys Current Report on Form 8-K, filed January 19, 2016 and
is incorporated in this Item 1.01 by reference.

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

The information set forth under Item 1.01 of this report is
incorporated herein by reference.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits

About Phibro Animal Health Corporation (NASDAQ:PAHC)