Neogen (NEOG) said Monday it has successfully refinanced its remaining $550 million principal of its $650 million term loan, and its revolving credit facility, originally due in August 2027, by extending the maturity to April 2030.

The company said the refinancing includes a $450 million term loan and a $250 million revolving credit facility maturing in April 2030, increasing the revolving credit limit from $150 million.

The new facilities lower the interest rate by 60 basis points, Neogen said.

Shares of the company were nearly 6% higher in recent Monday trading.

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