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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
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<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="FONT-SIZE: 14pt" lang=EN-US face="Times New Roman">UNITED STATES <BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, DC 20549</FONT></P>
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<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 18pt" lang=EN-US face="Times New Roman">FORM 8-K<BR>
</FONT></B><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">CURRENT REPORT</FONT></B></P>
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<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</FONT></B></P>
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<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">Date of report (Date of earliest event reported:&nbsp; August 27, 2010)</FONT></P>
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<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in" align=center><B><FONT style="FONT-SIZE: 18pt" lang=EN-US face="Times New Roman">Innophos Holdings, Inc.<BR>
</FONT></B><FONT style="FONT-SIZE: 8pt" lang=EN-US face="Times New Roman">(Exact name of Registrant as specified in its their Charter)</FONT></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Delaware</FONT></B><B><FONT style="FONT-SIZE: 8pt" face="Times New Roman"><BR>
</FONT></B><FONT style="FONT-SIZE: 8pt" face="Times New Roman">(States or other jurisdictions of incorporation)</FONT></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">001-33124</FONT></B><B><FONT style="FONT-SIZE: 8pt" face="Times New Roman"><BR>
</FONT></B><FONT style="FONT-SIZE: 8pt" face="Times New Roman">(Commission File Numbers)</FONT></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">20-1380758</FONT></B><B><FONT style="FONT-SIZE: 8pt" face="Times New Roman"><BR>
</FONT></B><FONT style="FONT-SIZE: 8pt" face="Times New Roman">(IRS Employer Identification Nos.)</FONT></P>
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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" lang=EN-US face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">259 Prospect Plains Road</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"><BR>
</FONT><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">Cranbury, New Jersey 08512</FONT></B><FONT style="FONT-SIZE: 8pt" lang=EN-US face="Times New Roman"><BR>
(Address of Principal Executive Office, including&nbsp; Zip Code)</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">(609) 495-2495</FONT></B><FONT style="FONT-SIZE: 8pt" lang=EN-US face="Times New Roman"><BR>
(Registrant&#146;s Telephone Number, Including Area Code)</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 30pt 0in 10pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">Not Applicable</FONT></B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"><BR>
</FONT><FONT style="FONT-SIZE: 8pt" lang=EN-US face="Times New Roman">(Former name or former address, if changed since last report)</FONT></P>
<DIV style="BORDER-BOTTOM: windowtext 1.5pt double; BORDER-LEFT: medium none; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in">
<P style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; MARGIN: 0in 0in 0pt; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:<BR>
[&nbsp; ]&nbsp; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR>
[&nbsp; ]&nbsp; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
[&nbsp; ]&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
[&nbsp; ]&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>
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<p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Item 1.01 Entry into a
Material Definitive Agreement</font></b></p>

<p style="margin-left:0in;margin-right:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; On August 27, 2010,
Registrant Innophos Holdings, Inc. and its wholly owned subsidiaries, Innophos
Investments Holdings, Inc. and Innophos, Inc. (each a &#8220;Company&#8221; and collectively,
the &#8220;Companies&#8221;), entered into a Credit Agreement (the &#8220;Credit Agreement&#8221;) with
a group of lenders (collectively, the &#8220;Lenders&#8221;) including Wells Fargo Bank,
National Association, as administrative agent.</font></p>

<p style="margin-left:0in;margin-right:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Credit Agreement provides
the Companies with a term loan of $100.0 million and a revolving line of credit
from the Lenders of up to $125.0 million, including a $20.0 million letter of
credit sub-facility, all maturing on August 26, 2015. Prepayments of term loan
are required at the rate of 1% of original principal amount per quarter
beginning on December 31, 2010.&#160; Interest accruing on amounts borrowed under
the term loan and revolving line is based on an applicable margin over LIBOR
(London Interbank Offered Rate) or bank base rate, ranging from 225 to 300
basis points for LIBOR and 125 to 200 basis points for base rate loans, in each
case with loan period and interest alternative as chosen by the Companies,
which margin is adjusted quarterly depending on a total leverage ratio (as
computed under the Credit Agreement) for the period in question. Commitment
fees on the unused revolving line range from 25 to 50 basis points, depending
on total leverage ratio (as computed under the Credit Agreement) for the period
in question. The initial applicable margin for LIBOR based loans, base rate
loans and the commitment fee were 250, 150 and 37.5 basis points, respectively.
</font></p>

<p style="margin-left:0in;margin-right:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Credit Agreement also
provides for possible additional revolving indebtedness under an incremental
facility of up to $50.0 million (i.e. an aggregate of revolving capacity up to
$175.0 million) upon future request by Innophos Holdings, Inc. to existing
Lenders (and depending on their consent) or from other willing financial
institutions invited by the Company and reasonably acceptable to the
administrative agent to join in the Credit Agreement. This revolving credit
facility increase, if implemented, may provide for higher applicable margins,
with limitations, for interest rates than those in effect for the original
revolving commitments under the Credit Agreement.</font></p>

<p style="margin-left:0in;margin-right:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The obligations of the
Companies under the Credit Agreement are secured by first priority liens on
substantially all the United States assets of the Companies, as well as a
pledge of 65% of the voting equity of entities holding the Companies&#8217; foreign
subsidiaries.</font></p>

<p style="margin-left:0in;margin-right:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Credit Agreement contains
representations given to the Lenders about the nature and status of the
Companies&#8217; business that serve as conditions to future borrowings, and
affirmative, as well as negative, covenants typical of senior facilities of
this kind that prohibit or limit a variety of actions by the Companies and
their subsidiaries generally without the Lenders&#8217; approval.&#160; These include
covenants that affect the ability of those entities, among other things, to (a)
incur or guarantee indebtedness, (b) create liens, (c) enter into mergers,
recapitalizations or assets purchases or sales, (d) change names, (e) make
certain changes to their business, (f) make restricted payments that include
dividends, purchases and redemptions of equity (g) make advances, investments
or loans, (h) effect sales and leasebacks or (i) enter into transactions with
affiliates, (j) allow negative pledges or limitations on the repayment
abilities of subsidiaries or (k) amend subordinated debt. However, subject to
continued compliance with the overall leverage restrictions described in more
detail below, the Companies retain flexibility under the Credit Agreement to
develop their business and achieve strategic goals by, among other things,
being permitted to take on additional debt, pay dividends, re-acquire equity
and make domestic acquisitions. Foreign acquisitions and investments are also
permitted up to a fixed limit which is set initially at $100.0 million and can
increase with ongoing cash generation up to as high as $250.0 million. </font></p>





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<p style="margin-left:0in;margin-right:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Among
its affirmative covenants, the Credit Agreement requires the Companies to
maintain the following consolidated ratios (as defined and calculated according
to the Credit Agreement) as of the end of each fiscal quarter:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8220;Total
Leverage Ratio&#8221; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;">less than or equal to the
following:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

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 <tr>
  <td valign=top width=73% style="border:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Period</font></b></p>
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 <td valign=top width=27% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Ratio</font></b></p>
  </td>
 </tr>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Through and including December 31, 2011</font></p>
  </td>
 <td valign=top width=27% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">2.50 to 1.00</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=73% style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">January 1, 2012 through and including December 31, 2012</font></p>
  </td>
 <td valign=top width=27% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">2.25 to 1.00</font></p>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">January 1, 2013 and thereafter</font></p>
  </td>
 <td valign=top width=27% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">2.00 to 1.00</font></p>
  </td>
 </tr>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8220;Senior
Leverage Ratio&#8221; </font><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;">less than or equal to the
following:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>

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 <tr>
  <td valign=top width=73% style="border:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Period</font></b></p>
  </td>
 <td valign=top width=27% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><b><font face="Times New Roman" style="font-size:10.0pt;">Ratio</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=73% style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Through and including December 31, 2011</font></p>
  </td>
 <td valign=top width=27% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">2.00 to 1.00</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=73% style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">January 1, 2012 through and including December 31, 2012</font></p>
  </td>
 <td valign=top width=27% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">1.75 to 1.00</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=73% style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">January 1, 2013 and thereafter</font></p>
  </td>
 <td valign=top width=27% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">1.50 to 1.00</font></p>
  </td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-align:justify;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8220;Fixed Charge Coverage Ratio&#8221;
greater than or equal to 1.50 to 1.00.</font></p>

<p style="margin-left:0in;margin-right:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; On August 27, 2010, the date
the Companies entered into the Credit Agreement, the Total Leverage Ratio,
Senior Leverage Ratio, and Fixed Charge Coverage Ratio calculated in accordance
with the agreement were 1.10, 1.10 and 2.76, respectively.</font></p>

<p style="margin-left:0in;margin-right:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Credit Agreement provides
for &#8220;Events of Default&#8221; that, unless waived, can or will lead to acceleration
of obligations upon the occurrence, continuation and/or notice, as applicable,
of specified events typical of senior facilities of this kind. These include
(a) failures to pay interest or principal on loans, (b) misrepresentations, (c)
failures to observe covenants, (d) cross defaults of other indebtedness in
excess of $20.0 million, (e) uninsured and unsatisfied judgments in excess of
$20.0 million or certain orders or injunctions, (f) bankruptcy and insolvency
events, (f) events leading to aggregate liability under the Employee Retirement
Income Security Act of 1974 (ERISA) in excess of $20.0 million, (g) changes of
control, (h) invalidity of credit support /security agreements, and (h) certain
disadvantageous changes in Credit Agreement debt compared to subordinated debt.
</font></p>

<p style="margin-left:0in;margin-right:0in;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; As of the date of this
Current Report on Form 8-K, no amounts had been borrowed under the Credit
Agreement, and total availability was $223.7 million, taking into account $ 1.3
million in face amount of letters of credit issued under a prior credit
facility terminated on that date.&#160; See Item 1.02 of this Current Report on Form
8-K.&#160; Innophos, Inc. has given notice of redemption of the entire outstanding
principal amount of its 8 7/8% Senior Subordinated Notes due 2014 as of
September 27, 2010.&#160; In connection with that redemption, the Companies
anticipate borrowing the entire amount of the term loan and approximately $70.0
million under the revolving line under the Credit Agreement.&#160; See Item 8.01 of
this Current Report on Form 8-K</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The above summary description is qualified
in its entirety by the full text of the Credit Agreement, a copy of which,
together with its forms of Exhibits and Schedules, as filed as Exhibit 99.1 and
99.2, respectively, to this Current Report on Form 8-K.</font></p>





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<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">Item 1.02 Termination of a Material Definitive Agreement</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt">&nbsp;</P>
<P style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">Registrant Innophos, Inc. and its wholly owned subsidiary, Innophos Canada, Inc., as Borrowers, were parties to a Loan and Security Agreement dated May 22, 2009 (the &#147;2009 Loan Agreement&#148;) with certain lenders, including Wachovia Bank, National Association, as agent, pursuant to which the agent and lenders were obligated to make loans and advances and provide other financial accommodations to the Borrowers. On August 27, 2010, the Borrowers entered into an agreement with Wells Fargo Bank, National Association, as successor to the noted agent, pursuant to which, among other things, the 2009 Loan Agreement was terminated and security held by the lenders on the Borrowers&#146; property was released.&nbsp; No borrowings were outstanding under the 2009 Loan Agreement when terminated. Letters of credit aggregating $1.3 million were left outstanding to expire by their terms or be rolled over into the sub-facility provided under the Credit Agreement referred to in Item 1.01. </FONT></P>
<P style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT size=2></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">Item 8.01 Other Events</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><STRONG><FONT size=2></FONT></STRONG>&nbsp;</P>
<P style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">On August 27, 2010, the Registrants issued a press release announcing the entry into the Credit Agreement and the call for redemption on September 27, 2010 by Innophos, Inc. of the entire outstanding principal amount of its 8 7/8% Senior Subordinated Notes due 2014. A copy of that press release is filed as Exhibit 99.3 to this Current Report on Form 8-K.</FONT></P>
<P style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT size=2></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On August 30, 2010, Registrant Innophos Holdings, Inc. issued a press release announcing an upgrade in its corporate debt ratings issued by Moody&#146;s Investors Services on August 27, 2010. A copy of that press release is filed as Exhibit 99.4 to this Current Report on Form 8-K.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">Item 9.01 Financial Statements and Exhibits.</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt">&nbsp;</P>
<P style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">The following exhibits are filed with this report:</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman"></FONT></B>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt"><B><U><FONT style="FONT-SIZE: 10pt" face="Times New Roman">(d) Exhibit No.</FONT></U></B><U><FONT style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp; </FONT></U></P>
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<P style="MARGIN: 0in 0in 0pt"><B><U><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Description</FONT></U></B><U><FONT style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp; </FONT></U></P>
</TD></TR>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=bottom width="80%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
</TD></TR>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99.1&nbsp; </FONT></P>
</TD>
     <TD style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" vAlign=top width="80%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Credit Agreement, dated August 27, 2010, between Registrant and a group of Lenders, including Wells Fargo Bank, National Association, as administrative agent</FONT></P>
</TD></TR>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99.2&nbsp;</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Exhibits and Schedules to Credit Agreement</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99.3&nbsp;</FONT></P>
</TD>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Press Release regarding Credit Agreement dated August 27, 2010</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99.4&nbsp;</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Press Release regarding Moody&#146;s dated August 30, 2010</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">SIGNATURES</FONT></B></P>
</TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">According to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">INNOPHOS HOLDINGS, INC.</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT style="FONT-SIZE: 10pt" face="Times New Roman">/s/ Mark Feuerbach</FONT></U><FONT style="FONT-SIZE: 10pt" face="Times New Roman"> </FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Name: &nbsp;&nbsp;&nbsp; Mark Feuerbach<BR>
Title: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vice President, Treasury, Financial Planning <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Analysis</FONT></P>
</TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" lang=EN-US face="Times New Roman">Dated: August 31, 2010</FONT></P>
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form8kholdings.htm - Generated by SEC Publisher for SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported:  August 27, 2010)
Innophos Holdings, Inc.
(Exact name of Registrant as specified in its their Charter)
Delaware
(States or other jurisdictions of incorporation)
001-33124
(Commission File Numbers)
20-1380758
(IRS Employer Identification Nos.)
259 Prospect Plains Road
Cranbury, New Jersey 08512
(Address of Principal Executive Office, including  Zip Code)
(609) 495-2495
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a
Material Definitive Agreement
On August 27, 2010,
Registrant Innophos Holdings, Inc. and its wholly owned subsidiaries, Innophos
Investments Holdings, Inc. and Innophos, Inc. (each a "Company" and collectively,
the "Companies"), entered into a Credit Agreement (the "Credit Agreement") with
a group of lenders (collectively, the "Lenders") including Wells Fargo Bank,
National Association, as administrative agent.
The Credit Agreement provides
the Companies with a term loan of $100.0 million and a revolving line of credit
from the Lenders of up to $125.0 million, including a $20.0 million letter of
credit sub-facility, all maturing on August 26, 2015. Prepayments of term loan
are required at the rate of 1% of original principal amount per quarter
beginning on December 31, 2010.  Interest accruing on amounts borrowed under
the term loan and revolving line is based on an applicable margin over LIBOR
(London Interbank Offered Rate) or bank base rate, ranging from 225 to 300
basis points for LIBOR and 125 to 200 basis points for base rate loans, in each
case with loan period and interest alternative as chosen by the Companies,
which margin is adjusted quarterly depending on a total leverage ratio (as
computed under the Credit Agreement) for the period in question. Commitment
fees on the unused revolving line range from 25 to 50 basis points, depending
on total leverage ratio (as computed under the Credit Agreement) for the period
in question. The initial applicable margin for LIBOR based loans, base rate
loans and the commitment fee were 250, 150 and 37.5 basis points, respectively.
The Credit Agreement also
provides for possible additional revolving indebtedness under an incremental
facility of up to $50.0 million (i.e. an aggregate of revolving capacity up to
$175.0 million) upon future request by Innophos Holdings, Inc. to existing
Lenders (and depending on their consent) or from other willing financial
institutions invited by the Company and reasonably acceptable to the
administrative agent to join in the Credit Agreement. This revolving credit
facility increase, if implemented, may provide for higher applicable margins,
with limitations, for interest rates than those in effect for the original
revolving commitments under the Credit Agreement.
The obligations of the
Companies under the Credit Agreement are secured by first priority liens on
substantially all the United States assets of the Companies, as well as a
pledge of 65% of the voting equity of entities holding the Companies' foreign
subsidiaries.
The Credit Agreement contains
representations given to the Lenders about the nature and status of the
Companies' business that serve as conditions to future borrowings, and
affirmative, as well as negative, covenants typical of senior facilities of
this kind that prohibit or limit a variety of actions by the Companies and
their subsidiaries generally without the Lenders' approval.  These include
covenants that affect the ability of those entities, among other things, to (a)
incur or guarantee indebtedness, (b) create liens, (c) enter into mergers,
recapitalizations or assets purchases or sales, (d) change names, (e) make
certain changes to their business, (f) make restricted payments that include
dividends, purchases and redemptions of equity (g) make advances, investments
or loans, (h) effect sales and leasebacks or (i) enter into transactions with
affiliates, (j) allow negative pledges or limitations on the repayment
abilities of subsidiaries or (k) amend subordinated debt. However, subject to
continued compliance with the overall leverage restrictions described in more
detail below, the Companies retain flexibility under the Credit Agreement to
develop their business and achieve strategic goals by, among other things,
being permitted to take on additional debt, pay dividends, re-acquire equity
and make domestic acquisitions. Foreign acquisitions and investments are also
permitted up to a fixed limit which is set initially at $100.0 million and can
increase with ongoing cash generation up to as high as $250.0 million.
Among
its affirmative covenants, the Credit Agreement requires the Companies to
maintain the following consolidated ratios (as defined and calculated according
to the Credit Agreement) as of the end of each fiscal quarter:
(a)           "Total
Leverage Ratio"
less than or equal to the
following:
Period
Ratio
Through and including December 31, 2011
2.50 to 1.00
January 1, 2012 through and including December 31, 2012
2.25 to 1.00
January 1, 2013 and thereafter
2.00 to 1.00
(b)           "Senior
Leverage Ratio"
less than or equal to the
following:
Period
Ratio
Through and including December 31, 2011
2.00 to 1.00
January 1, 2012 through and including December 31, 2012
1.75 to 1.00
January 1, 2013 and thereafter
1.50 to 1.00
(c)           "Fixed Charge Coverage Ratio"
greater than or equal to 1.50 to 1.00.
On August 27, 2010, the date
the Companies entered into the Credit Agreement, the Total Leverage Ratio,
Senior Leverage Ratio, and Fixed Charge Coverage Ratio calculated in accordance
with the agreement were 1.10, 1.10 and 2.76, respectively.
The Credit Agreement provides
for "Events of Default" that, unless waived, can or will lead to acceleration
of obligations upon the occurrence, continuation and/or notice, as applicable,
of specified events typical of senior facilities of this kind. These include
(a) failures to pay interest or principal on loans, (b) misrepresentations, (c)
failures to observe covenants, (d) cross defaults of other indebtedness in
excess of $20.0 million, (e) uninsured and unsatisfied judgments in excess of
$20.0 million or certain orders or injunctions, (f) bankruptcy and insolvency
events, (f) events leading to aggregate liability under the Employee Retirement
Income Security Act of 1974 (ERISA) in excess of $20.0 million, (g) changes of
control, (h) invalidity of credit support /security agreements, and (h) certain
disadvantageous changes in Credit Agreement debt compared to subordinated debt.
As of the date of this
Current Report on Form 8-K, no amounts had been borrowed under the Credit
Agreement, and total availability was $223.7 million, taking into account $ 1.3
million in face amount of letters of credit issued under a prior credit
facility terminated on that date.  See Item 1.02 of this Current Report on Form
8-K.  Innophos, Inc. has given notice of redemption of the entire outstanding
principal amount of its 8 7/8% Senior Subordinated Notes due 2014 as of
September 27, 2010.  In connection with that redemption, the Companies
anticipate borrowing the entire amount of the term loan and approximately $70.0
million under the revolving line under the Credit Agreement.  See Item 8.01 of
this Current Report on Form 8-K
The above summary description is qualified
in its entirety by the full text of the Credit Agreement, a copy of which,
together with its forms of Exhibits and Schedules, as filed as Exhibit 99.1 and
99.2, respectively, to this Current Report on Form 8-K.
Item 1.02 Termination of a Material Definitive Agreement
Registrant Innophos, Inc. and its wholly owned subsidiary, Innophos Canada, Inc., as Borrowers, were parties to a Loan and Security Agreement dated May 22, 2009 (the "2009 Loan Agreement") with certain lenders, including Wachovia Bank, National Association, as agent, pursuant to which the agent and lenders were obligated to make loans and advances and provide other financial accommodations to the Borrowers. On August 27, 2010, the Borrowers entered into an agreement with Wells Fargo Bank, National Association, as successor to the noted agent, pursuant to which, among other things, the 2009 Loan Agreement was terminated and security held by the lenders on the Borrowers' property was released.  No borrowings were outstanding under the 2009 Loan Agreement when terminated. Letters of credit aggregating $1.3 million were left outstanding to expire by their terms or be rolled over into the sub-facility provided under the Credit Agreement referred to in Item 1.01.
Item 8.01 Other Events
On August 27, 2010, the Registrants issued a press release announcing the entry into the Credit Agreement and the call for redemption on September 27, 2010 by Innophos, Inc. of the entire outstanding principal amount of its 8 7/8% Senior Subordinated Notes due 2014. A copy of that press release is filed as Exhibit 99.3 to this Current Report on Form 8-K.
On August 30, 2010, Registrant Innophos Holdings, Inc. issued a press release announcing an upgrade in its corporate debt ratings issued by Moody's Investors Services on August 27, 2010. A copy of that press release is filed as Exhibit 99.4 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
The following exhibits are filed with this report:
(d) Exhibit No.
Description
99.1
Credit Agreement, dated August 27, 2010, between Registrant and a group of Lenders, including Wells Fargo Bank, National Association, as administrative agent
99.2
Exhibits and Schedules to Credit Agreement
99.3
Press Release regarding Credit Agreement dated August 27, 2010
99.4
Press Release regarding Moody's dated August 30, 2010
SIGNATURES
According to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
INNOPHOS HOLDINGS, INC.
By:
/s/ Mark Feuerbach
Name:     Mark Feuerbach
Title:       Vice President, Treasury, Financial Planning
Analysis
Dated: August 31, 2010