Terrafina decreases revolver to $300 million, extends, trims pricing

By Wendy Van Sickle

Columbus, Ohio, Feb. 6 – Terrafina renegotiated the terms of its revolving credit facility to decrease the amount to $300 million from $375 million and extend the maturity date to 2023, among other changes, according to a press release issued on Tuesday.

The interest rate was also reduced by 20 basis points to Libor plus 245 bps.

The company has an additional one-year extension option and an option to increase the facility size up to $400 million.

“We are pleased to have reached these renegotiated revolving credit facility terms, which are in line with our strategy of strengthening the company’s financial position,” Carlos Gomez, Terrafina’s chief financial officer, said in the release.

“This renegotiation improves our average maturity profile, with added flexibility to continue managing Terrafina’s business plan.”

Terrafina is a Mexico City-based real estate investment trust with a focus on industrial properties. It is externally advised by Prudential Real Estate Investors.

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