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Stock impact report

TERRAFINA TAPS US$150 MILLION FROM ITS REVOLVING CREDIT FACILITY TO STRENGTHEN LIQUIDITY POSITION

Prudential Financial, Inc. (PRU) 
Last prudential financial, inc. earnings: 2/4 04:18 pm Check Earnings Report
US:NYSE Investor Relations: investor.prudential.com
Company Research Source: GlobeNewswire
MEXICO CITY, April 06, 2020 (GLOBE NEWSWIRE) -- Terrafina (”TERRA”) (BMV: TERRA13), a leading Mexican industrial real estate investment trust (“FIBRA”), externally advised by PGIM Real Estate and dedicated to the acquisition, development, lease and management of industrial real estate properties in Mexico, announced today the drawdown of US$150 million of its revolving credit line maturing in January 2023, with an interest rate of Libor + 245 basis points and without prepayment penalty fees. These resources will only be used as a contingency plan if needed in addition to current leasing revenues to shield Terrafina’s operations. Considering the amount of this drawdown, Terrafina remains in full compliance with its financial obligations (“covenants”) for leverage and interest coverage. Terrafina is very well positioned to face the possible negative impacts on its operations due to the COVID-19 pandemic. The Company has a robust balance sheet and a solid base of multinational tenant Show less Read more
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