Tecnoglass Boosts Credit Facility to $500 Million

By Hao Liu • Sunday, September 07 06:01 • Permanent Link

Tecnoglass, Inc. has made significant changes to its senior secured revolving credit facility to boost its financial flexibility and capitalize on growth opportunities. The company has increased the borrowing capacity under its committed line of credit from $150 million to $500 million, reduced borrowing costs by approximately 25 basis points, and extended the initial maturity date by five years to the end of 2030.

The net debt to adjusted EBITDA ratio has remained at an all-time low ratio of -0.09x net debt to adjusted EBITDA. This indicates the company's strong financial position and ability to generate cash, maintaining one of the strongest balance sheets in the industry.

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 serving as joint lead arrangers.

Tecnoglass' tailored, high-end products are found on some of the world’s most distinctive properties, including One Thousand Museum (Miami), Paramount (Miami), Salesforce Tower (San Francisco), Via 57 West (NY), Hub50House (Boston), Aeropuerto Internacional El Dorado (Bogotá), One Plaza (Medellín), and Pabellon de Cristal (Barranquilla).

These changes in the credit facility demonstrate strong institutional confidence in the company’s ongoing growth and strategic direction. As a result of these announcements, the company's shares have moved 1.08% on the market, and are now trading at a price of $72.74. For the full picture, make sure to review Tecnoglass's 8-K report.

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