Tetra Technologies, Inc. has entered into a First Amendment to its Term Loan Credit Agreement, dated October 2, 2026. The amendment modifies the terms of the credit agreement originally executed on January 12, 2024, and involves the Company, its lenders, and Silver Point Finance, LLC as the administrative agent.
The agreement includes several key changes to the Company's debt structure. The interest rate on the loans has been reduced from SOFR plus 5.75% per annum to SOFR plus 5.00% per annum. Additionally, the maturity date of the Term Loan Credit Agreement has been extended from January 12, 2030, to December 31, 2030.
The amendment also alters the amortization schedule for the loan. Amortization payments have been eliminated until June 30, 2028. Following this period, quarterly amortization payments will commence at an amount equal to 0.625% of the original principal balance of the loan. These payments are set to increase to 1.25% per quarter, commencing June 30, 2029.
Other modifications to the agreement include changes to certain covenant baskets and the requirement that TETRA Bromine Project LLC become a guarantor under the Term Loan Credit Agreement. The First Amendment contains customary terms and conditions.
