2 unchanged sentences
The interest on our borrowings is subject to market risk exposure related to changes in applicable interest rates.
−Removed: 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: Borrowings under our Asset-Based Credit Agreement bear interest at an agreed-upon percentage rate spread above LIBOR.
+Added: Borrowings under the Term Credit Agreement bear interest at a rate per annum equal to SOFR plus a margin of 6.25% per annum.
+Added: Borrowings under our Asset-Based Credit Agreement bear interest at an agreed-upon percentage rate spread above SOFR or an alternate base rate.
The following table sets forth as of December 31, 2023, the principal amount due under our long-term debt obligations and their respective weighted average interest rates.
5 unchanged sentences
Asset-based credit agreement May 31, 2025 8.75% —
+Added: Swedish credit facility
+Added: December 31, 2024 2.95% —
Total long-term debt $ 163,072
+Added: On January 12, 2024, the Company entered into a New Term Credit Agreement consisting of a $190.0 million funded term loan and a $75.0 million delayed-draw term loan that refinanced the Company’s Term Credit Agreement outstanding as of December 31, 2023.
+Added: Borrowings under the New Term Credit Agreement bear interest at a rate per annum equal to SOFR plus 5.75%.
Exchange Rate Risk
8 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.