Hudson Technologies repays remaining $17.5M term loan, extinguishes all term debt

HUDSON TECHNOLOGIES INC /NY

Repaid $17,487,500 principal plus $349,750 prepayment fee on TCW Term Loan Facility on Aug 21, 2023.
Repaid $15M FILO term loan on July 31, 2023 under Amended Wells Fargo Facility.
Total $100M term debt and FILO debt paid down over 15 months, saving ~$10M annually on interest expense.
ABL facility with Wells Fargo remains in place for working capital and inventory needs.
CEO Brian Coleman says early repayment ahead of March 2027 maturity strengthens balance sheet.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

HUDSON TECHNOLOGIES INC /NY terminated Credit Agreement with TCW Asset Management Company LLC, as administrative agent, and the lender parties thereto valued at $17,487,500 (effective 2023-08-21).

Action: termination
Agreement: credit facility
Counterparty: TCW Asset Management Company LLC, as administrative agent, and the lender parties thereto
Value: $17,487,500
Effective: 2023-08-21

Exact text from the filing

On August 21, 2023, subsidiaries of Hudson Technologies, Inc. (the “Company”) repaid in full the remaining principal balance of $17,487,500 and associated prepayment fees of $349,750 with respect to its Credit Agreement dated March 2, 2022 (the “Term Loan Facility”) with TCW Asset Management Company LLC, as administrative agent (“Term Loan Agent”) and the lender parties thereto (the “Term Loan Lenders”).

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HUDSON TECHNOLOGIES INC /NY filing history →

Source: SEC EDGAR

accession 0001104659-23-094117

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