Itafos upsizes debt package to $140 million and extends maturities

Itafos said on Sept. 29, 2026 that it entered into amendments to its existing credit facilities, including a refinancing of its term loan and letter of credit arrangement into a new $140 million commitment and a $30 million letter of credit facility. It also said the maturity date under the amended term loan agreement and the amended revolving asset-based credit facility will be extended to Sept. 29, 2029.

The company said the existing $100 million term loan had $82.5 million outstanding, and that the amendment reduces the loan margin by 75 basis points. It also said annual principal amortization will be 5% in year 1 and 10% in years 2 and 3.

Itafos said the proceeds are expected to refinance indebtedness under the existing term loan agreement, repay all outstanding ABL borrowings and go toward general corporate purposes. Upon closing, it said the amended term loan will have an outstanding balance of $140 million, the ABL facility will be undrawn and the letter of credit facility will have an outstanding balance of $12.5 million.

The company described itself as a phosphate and specialty fertilizer business with operations in the United States, Brazil and Guinea-Bissau, and said its shares trade on the TSX-V under IFOS and on OTCQX under ITFS.