Philippi Prietocarrizosa Ferrero DU & Uría (Colombia) has guided local glass manufacturer Tecnoglass in a US$500 million refinancing.
Latin Lawyer understands that Holland & Knight (Colombia) advised the lenders but could not confirm this before publishing.
The deal closed on 4 September.
With this transaction, Tecnoglass increased its US$150 million loan to US$500 million and also extended the maturity date of the credit facility by five years to 2030.
Tecnoglass will use the proceeds of the loan to refinance existing debt.
According to Latin Lawyer news reporting, there have been five refinancing deals in Latin America so far in the past 12 months, including that carried out by Tecnoglass. Three of those took place in Mexico, while Brazil and Colombia have recorded one each. Most recently, Grupo Bimbo refinanced a US$2.35 billion loan last month, while in June, GOL Airline raised US$2.1 billion to refinance debt to fund its exit from Chapter 11 bankruptcy protection. That came several months after Mexican hospitality company CMR obtained funds to refinance an existing credit agreement, while UK power company ContourGlobal refinanced a US$525 million loan for its natural gas assets in Mexico last September.
