Financing ·
Tetra Technologies amends term loan to cut interest rate spread by 75 bps and extend maturity to Dec 2030
TTITetra Technologies Inc
Tetra Technologies entered into a First Amendment to its Term Loan Credit Agreement, reducing the applicable interest rate from SOFR + 5.75% to SOFR + 5.00%. The amendment extends the maturity date from January 12, 2030, to December 31, 2030, and eliminates amortization payments until June 30, 2028. Additionally, TETRA Bromine Project LLC was added as a guarantor, and certain covenant baskets were modified. Tetra Technologies provides oilfield services and chemical solutions for the energy industry.