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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Silver Point Finance Provides $265MM Credit Facility to TETRA Technologies
Tuesday, January 16, 2024
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Lenders/Participants
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Silver Point Financial LLC [Lender]
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Structure
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$190MM Term Loan; $75MM Delayed-Draw Term Loan
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Amount
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$265.000
Million
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Borrower(s)
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TETRA Technologies
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Description
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A $265 million credit facility with a maturity of January 2030, consisting of a $190 million funded term loan and a $75 million delayed-draw term loan that will refinance TETRA's existing term loan of $163 million and provide capital to advance TETRA's Arkansas bromine processing project. Pricing on the new credit facility is SOFR (Secured Overnight Financing Rate) +575 basis points, which is 50 basis points below TETRA's existing term loan, reflecting TETRA's strong financial position. The new credit facility closed and funded on January 12, 2024. TETRA used the proceeds to repay in full the $163 million balance of its prior credit facility, that was due September 2025, with approximately $15 million of additional cash added to the balance sheet, net of transaction expenses.
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Industry
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Technology
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Location
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TX
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| Related Tags |
Silver Point Capital, Technology
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ABL Advisor
Deal Tables
2025
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