Tecnoglass increases availability under revolving credit facility

Tecnoglass (TGLS) amended its senior secured revolving credit facility to increase the borrowing capacity under its committed Line of credit from $150M to $500M, reduce its borrowing costs by an approximate 25 basis points, and extend the initial maturity date by five years to the end of 2030. Borrowings under the credit facility will now bear interest at the Secured Overnight Financing Rate with no floor plus a spread of 1.25%, based on the Company’s net leverage ratio, compared to a prior spread of 1.50%. The facility was led by Wells Fargo Bank N.A. as Administrative Agent; with BMO Bank N.A, Citibank N.A, Citizens Bank N.A, First Citizens Bank & Trust Company and J.P. Morgan Chase Bank N.A, as Joint Lead Arrangers.