secwatch.observer — SEC 8-K summary
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Issuer:     TETRA TECHNOLOGIES INC (TTI)
CIK:        0000844965
Form:       8-K
Filed at:   2024-01-18T23:59:59+00:00
Accession:  0000844965-24-000010
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 1.02, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TETRA enters $265M credit facility with Silver Point; $190M funded, $75M delayed draw, maturity Jan 2030
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- Term loan agreement: $190M funded at closing; $75M delayed draw available for bromine processing facility.
- Pricing: SOFR + 575 bps, 50 bps lower than prior term loan; maturity January 12, 2030.
- Proceeds used to repay $163M existing term loan (due Sep 2025) and add ~$15M cash, net of expenses.
- Existing liquidity estimated at $142M as of January 12, 2024; free cash flow expected to fund remaining project capital.
- Prepayment premiums: 3% within 1 year, 2% from 1-2 years, 1% from 2-3 years; 0% after 3 years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/844965/000084496524000010/0000844965-24-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/844965/000084496524000010/tti-20240112.htm
  HTML page:      https://secwatch.observer/filing/0000844965-24-000010

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer