Alico, Inc. announced on October 1, 2025, that it has amended its Credit Agreement with MetLife Investment Management, LLC, effective September 29, 2025. This amendment provides for $10 million of additional fixed rate borrowings.
The proceeds from these new borrowings were utilized to retire all of Alico's existing indebtedness with Prudential Mortgage Capital Company, LLC. This refinancing eliminates $1.16 million of annual mandatory principal payments on the Prudential debt.
The maturity date for these refinanced borrowings under the MetLife agreement has been extended to May 1, 2034. This move strengthens Alico's balance sheet and enhances its financial flexibility, supporting its operations and strategic objectives as it continues its transformation into a diversified land company.
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