Tecomet announced today that it successfully completed the refinancing of its entire capital structure.
The refinancing includes its previously outstanding ABL revolver, first-lien term loan and second-lien notes. Through this transaction, Tecomet extends the maturity of its capital structure with a new ABL revolving credit facility. It also has a six-year, privately placed first-lien term loan.
According to a news release, this transaction provides Tecomet with increased operational and financial flexibility. All obligations under the company’s prior credit agreements and notes agreement have been terminated. The company plans to discontinue public ratings as they no longer represent an obligation under the new financing structure.
“We are very pleased to have successfully completed this refinancing, which provides additional maturity runway,” Tecomet CEO Andreas Weller said. “With the closing of this transaction, we have secured…