Itafos Refinances Credit Facilities, Boosts Commitment to $140M
Itafos Inc. amended its credit facilities, securing $140M in new commitments and extending maturities with an RBC-led lender syndicate.
Itafos Inc., the fertilizer company listed on the TSX Venture Exchange and OTCQX, announced Monday it has amended and extended its existing credit facilities through a deal arranged by a syndicate led by RBC Capital Markets, alongside Texas Capital and PNC Capital Markets LLC as joint lead arrangers.
Under the revised terms, the company will refinance its existing $100 million term loan — of which $82.5 million remains outstanding — along with a $30 million letter of credit facility. The amended agreement replaces those obligations with a new $140 million commitment and retains a $30 million letter of credit facility, while pushing out the maturity date on the underlying term loan.
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Separately, Itafos also amended its revolving asset-based credit facility with the same lender syndicate, again extending that facility's maturity date. The company did not disclose the specific new maturity dates for either facility in the announcement.
The dual amendments are designed to increase the Houston-based company's financial flexibility and available liquidity, providing runway to support ongoing operations and potential capital deployment. The expanded commitment represents a roughly 40 percent increase over the original $100 million term loan.
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