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January 12, 2016

Tecnoglass to spend around US $ 30 million in investment projects

Tecnoglass, a company headquartered in Barranquilla and dedicated to the manufacture of glass, said they got a syndicated loan for around US $ 120 million, of which about US $ 80 million will be used to refinance debt to seven years and the remaining US $ 30 million for investment projects in its facilities during 2016.

Rodolfo Espinosa, president of Energía Solar, ESWindows a subsidiary of Tecnoglass Holding, said that this loan was 70% approved by banks abroad.

Regarding the process of emission in the Colombian Stock Exchange (BVC), Espinosa said that they were looking to start a program to form liquidity for the company and are talking with Casa de Bolsa and Credicorp Capital.

In addition They explained that with the entrance to the Colombia Stock Exchange people in Colombia are seeking to buy shares in the company without having to enroll in the United States market.

“In 2013 we took the big step of entering and raising capital in NASDAQ and it has been a great success for our investors and to the business group. In the last two years we have recovered by 35% in dollar terms and 130% in Colombian pesos at the exchange rate, “stressed José Manuel Daes, CEO of Tecnoglass Inc.

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