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MIAMI - Tecnoglass, Inc. (NYSE:TGLS), with a market capitalization of $3.38 billion and impressive gross profit margins of 44.7%, has amended its senior secured revolving credit facility, increasing its borrowing capacity more than threefold to $500 million from $150 million, the architectural glass producer announced Friday.
The amended facility also reduces borrowing costs by approximately 25 basis points and extends the maturity date by five years to the end of 2030. Under the new terms, borrowings will bear interest at the Secured Overnight Financing Rate plus a spread of 1.25% based on the company’s net leverage ratio, down from the previous 1.50% spread. According to InvestingPro data, Tecnoglass maintains strong liquidity with a current ratio of 2.0 and operates with a moderate debt-to-equity ratio of 0.18.
"The overwhelming support from our blue-chip banking syndicate, achieving almost twice as much in commitments versus the proposed facility amount, combined with the exceptional pricing we achieved, demonstrates the confidence in our strategic direction," said Santiago Giraldo, Tecnoglass Chief Financial Officer, in a press release statement.
The facility was led by Wells Fargo Bank N.A. as Administrative Agent, with BMO Bank N.A, Citibank N.A, Citizens Bank N.A, First Citizens Bank & Trust Company and J.P. Morgan Chase Bank N.A. serving as Joint Lead Arrangers.
Tecnoglass, which produces aluminum and vinyl windows and architectural glass for residential and commercial markets, maintains a net debt to adjusted EBITDA ratio of -0.09x, which the company described as an all-time low. The company generates 95% of its total revenues from the United States. InvestingPro analysis shows the company’s strong financial performance, with trailing twelve-month revenue of $956 million and EBITDA of $278 million. Get access to 14 additional exclusive ProTips and comprehensive financial analysis through InvestingPro’s detailed research reports.
The manufacturer operates from a 5.8 million square foot manufacturing complex in Barranquilla, Colombia, serving approximately 1,000 customers across North, Central and South America. Based on InvestingPro’s Fair Value analysis, the stock currently appears to be trading near its fair value, with analysts setting price targets ranging from $84 to $100 per share.
In other recent news, Tecnoglass Inc. reported strong financial results for the second quarter of 2025, exceeding both earnings and revenue forecasts. The company achieved an earnings per share of $1.03, surpassing the anticipated $0.97, and generated revenue of $255.5 million, which was above the expected $247.82 million. Despite these positive financial results, Tecnoglass faced a setback with allegations from a short seller report. The company has categorically rejected these claims, labeling them as "false, misleading, and unsubstantiated." Tecnoglass emphasized that a prior investigation by a Special Committee found no evidence of wrongdoing or financial misstatement. These developments highlight the company’s ongoing challenges and triumphs in the market.
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