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) SOFR (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 the Term Credit Agreement bear interest at a rate per annum of SOFR plus 5.75%.
+Added: The Company is required to pay a commitment fee on the unutilized commitments with respect to the delayed-draw term loan at the rate of 1.5% per annum.
Borrowings under our ABL Credit Agreement bear interest at an agreed-upon percentage rate spread above SOFR.
−Removed: Borrowings under our Argentina Credit Facility and Swedish Credit Facility bear interest at fixed rates of 2.50% and 2.95%, respectively.
−Removed: The following table sets forth as of September 30, 2023, the principal amount due under our long-term debt obligations and their respective weighted average interest rates.
−Removed: As of September 30, 2023, we had no balance outstanding under our ABL Credit Agreement.
+Added: Borrowings under our Swedish Credit Facility, if any, bear interest at fixed rates of 2.95%.
+Added: The following table sets forth as of March 31, 2024, the principal amount due under our long-term debt obligations and their respective weighted average interest rates.
+Added: As of March 31, 2024, we had no balances outstanding under our ABL Credit Agreement or Swedish Credit Facility.
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 September 30, 2023
+Added: Interest March 31, 2024
Scheduled Maturity Rate
(in thousands)
−Removed: Term Credit Agreement September 10, 2025 11.68% $ 163,071
−Removed: Asset-Based Credit Agreement May 31, 2025 8.75% —
−Removed: Argentina Credit Facility October 19, 2023 2.50% 1,900
−Removed: Swedish Credit Facility December 31, 2023 2.95% 11
+Added: Term Credit Agreement January 12, 2030 11.17% $ 190,000
TETRA total debt, including current portion $ 190,000
4 unchanged sentences
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 September 30, 2023, we did not have any foreign currency exchange contracts outstanding.
+Added: As of March 31, 2024, 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.