Terrafina announced that it has obtained a USD 150 million refinancing loan to partially pay down its secured credit facility. With this transaction, Terrafina continues diversifying its funding options with domestic and international banks, while migrating towards unsecured credit structures. The unsecured credit facility will generate savings for Terrafina with a more competitive interest rate of LIBOR plus 200 basis points compared to an interest rate of LIBOR plus 375 basis points for the current secured credit loan. The new credit is scheduled to mature in October 2021, which increases Terrafina’s weighted average term to maturity. Moreover, the next refinancing phase for its outstanding secured credits will be announced once negotiations with the involved parties conclude.