Terrafina announced the conclusion of a new term loan for $350 million. This loan will be used for the liability management of the total payment of the $150 million BBVA/JPMorgan unsecured credit loan, and the remainder will be used to pay down the existing revolving credit facility. This new loan has an interest rate of LIBOR + 245 basis points, an interest-only period for the first three years and has a five-year maturity until October 2022, further extending Terrafina’s debt expiration profile. As a result of this term-loan, Terrafina weighted average to maturity improves to 5.4 years from 4.7 years and Terrafina keeps its cost of debt at competitive rates.