Brief: Tecnoglass enters new $109.5 million senior secured credit facility

Tecnoglass Holdings

11/01/2016 21:15

Jan 11 (Reuters) - Tecnoglass Inc  TGLS.O : 
 * Enters into new $109.5 million senior secured credit facility 
 * Says proceeds used primarily to refinance $83.5 million of existing debt 
 * Proceeds of $26 million from new senior secured credit facility to be 
   available for capex and working capital needs 
 * Says new facility features two tranches, including one tranche denominated in 
   usd representing 71% of the facility 
 * Borrowings under facility will bear interest at a weighted-average interest 
   rate of approximately 7.00% for the first year 
 * Borrowings under facility after first year to bear interest at a of libor 
   plus 5.25% 
 * Borrowings under facility after first year to bear interest at dtf plus 5.00% 
   for cop denominated tranches 
 
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