Tecnoglass Inc. announced it has amended its senior secured revolving credit facility, significantly increasing its borrowing capacity from $150 million to $500 million. This expansion provides the company with substantial financial flexibility for future growth and capital allocation strategies.
The amended facility also reduces Tecnoglass's borrowing costs by approximately 25 basis points, with interest now bearing at the Secured Overnight Financing Rate (SOFR) plus a spread of 1.25%. This favorable pricing reflects strong institutional confidence in the company's strategic direction and operational excellence.
Furthermore, the maturity date of the credit facility has been extended by five years to the end of 2030. Santiago Giraldo, Tecnoglass CFO, noted that the overwhelming support from its banking syndicate, achieving almost twice the proposed facility amount in commitments, demonstrates confidence in the company's ongoing growth and strategic direction. The company's net debt to Adjusted EBITDA ratio remains at an all-time low of -0.09x.
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