Tecta America announced the completion of its $210 million incremental First Lien Term Loan through joint lead arrangers Wells Fargo and RBC Capital Markets. According to a news release, proceeds will be used to repay Tecta's existing Second Lien Term Loan, to pre-fund acquisitions under letters of intent and for general corporate purposes.
Additionally, Tecta added $20 million of revolver capacity to its existing $165 million facility to support continued merger and acquisition and general corporate purposes.