Southern States Cooperative
$60,000,000 Term Loan
Southern States Cooperative is a Richmond, VA-based cooperative serving retail and wholesale outlets across 21 states, providing a wide range of farm supplies including fertilizer, seed, livestock feed, pet food, animal health supplies, petroleum products, and other items for the farm and home.
In October 2020, Southern States and GROWMARK, Inc. closed on a transaction that aligned the organizations to provide enhanced operations, growth and returns for the farmer-owners of both cooperative systems. As Southern States’ existing term loan lender, the Company approached Crystal to continue the collaborative relationship and support the transaction with a new facility.
Crystal agented an upsized $60,000,000 Senior Term Loan secured by a first lien on the Company’s Energy Business and real estate assets and a second lien position on all other assets securing the revolving credit facility.