5 unchanged sentences
Borrowings under the Term Credit Agreement bear interest at a rate per annum equal to, at the option of TETRA, either (i) LIBOR (subject to a 1% floor) plus a margin of 6.25% per annum or (ii) a base rate plus a margin of 5.25% per annum.
−Removed: The following table sets forth as of June 30, 2022, the principal amount due under our long-term debt obligations and their respective weighted average interest rates.
+Added: The following table sets forth as of September 30, 2022, the principal amount due under our long-term debt obligations and their respective weighted average interest rates.
We are not a party to an interest rate swap contract or other derivative instrument designed to hedge our exposure to interest rate fluctuation risk.
−Removed: Interest June 30, 2022
+Added: Interest September 30, 2022
Scheduled Maturity Rate
(in thousands)
−Removed: Swedish Credit Facility December 31, 2022 2.95% $ 11
−Removed: Asset-based credit agreement September 10, 2023 4.75% —
Term credit agreement September 10, 2025 8.77% $ 163,071
+Added: Asset-based credit agreement September 10, 2023 4.75% —
+Added: Swedish Credit Facility December 31, 2022 2.95% 14
TETRA total debt, including current portion $ 163,085
Exchange Rate Risk
−Removed: We are exposed to fluctuations between the U.S.
−Removed: dollar and the euro with regard to our euro-denominated operating activities.
−Removed: We also have currency exchange rate risk exposure related to revenues, expenses, operating receivables, and payables denominated in foreign currencies.
−Removed: We may enter into 30-day foreign-currency forward derivative contracts as part of a program designed to mitigate the currency exchange rate risk exposure on selected transactions of certain foreign subsidiaries.
+Added: We have currency exchange rate risk exposure related to revenues, expenses, operating receivables, and payables denominated in foreign currencies.
+Added: We may enter into short-term foreign-currency forward derivative contracts as part of a program designed to mitigate the currency exchange rate risk exposure on selected transactions of certain foreign subsidiaries.
Although contracts pursuant to this program will serve as an economic hedge of the cash flow of our currency exchange risk exposure, they are not expected to be formally designated as hedge contracts or qualify for hedge accounting treatment.
Accordingly, any change in the fair value of these derivative instruments during a period will be included in the determination of earnings for that period.
−Removed: As of June 30, 2022, we did not have any foreign currency exchange contracts outstanding.
+Added: As of September 30, 2022, we did not have any foreign currency exchange contracts outstanding.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.