2 unchanged sentences
The interest on our borrowings is subject to market risk exposure related to changes in applicable interest rates.
−Removed: Borrowings under our revolving credit facility bear interest at an agreed-upon percentage rate spread above LIBOR.
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.
+Added: Borrowings under our Asset-Based Credit Agreement bear interest at an agreed-upon percentage rate spread above LIBOR.
The following table sets forth as of December 31, 2022, the principal amount due under our long-term debt obligations and their respective weighted average interest rates.
3 unchanged sentences
(In Thousands)
−Removed: Asset-based credit agreement May 31, 2025 4.75 % $ 1,614
Term credit agreement September 10, 2025 10.32% $ 163,072
+Added: Asset-based credit agreement May 31, 2025 8.75% 2,950
Total long-term debt $ 166,022
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.
5 unchanged sentences
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.