Hudson Technologies, a provider of refrigerant products and services to the heating, ventilation, air conditioning and refrigeration industries, repaid in full the remaining principal balance outstanding under its credit agreement with TCW Asset Management. In addition, on July 31, Hudson repaid in full its $15 million first-in-last-out term loan. Over the last 15 months, the company has paid down $100 million of term loan and FILO debt combined, resulting in more than $10 million of annual savings on interest expense, inclusive of any prepayment fees.

Hudson’s current asset-based lending facility with Wells Fargo Bank otherwise remains in place and will continue to be utilized primarily for working capital needs, including ensuring the maintenance of adequate inventory balances.

“Our strong operating performance has enabled us to aggressively pay down our debt during the last several quarters, culminating with the full repayment of our term loans, well ahead of the March 2, 2027 maturity date,” Brian F. Coleman, president and CEO of Hudson Technologies, said. “This repayment will enable us to further reduce interest expense and enhance our leverage ratio. We were very pleased to have a strong partnership with TCW and Wells Fargo as we refinanced our then existing indebtedness during 2022 and look forward to continuing our lending relationship with Wells Fargo. With our proprietary reclamation technology, service and conversion offerings and solid base of customers committed to the adoption of cleaner cooling alternatives, we believe we are well positioned to grow our leadership role in the transitioning refrigerant industry and to capitalize on the tremendous opportunities represented by the ongoing refrigerant phaseouts. We appreciate the support of our lending partners and remain focused on continuing to drive long-term growth and cash flow.”