TPI Composites, Inc. Announces Refinancing Transaction with Oaktree, Significantly Strengthening Company’s Liquidity Position and Enhancing Financial Flexibility

December 15, 2023

https://www.globenewswire.com/news-release/2023/12/14/2796352/0/en/TPI-Composites-Inc-Announces-Refinancing-Transaction-with-Oaktree-Significantly-Strengthening-Company-s-Liquidity-Position-and-Enhancing-Financial-Flexibility.html

Improves liquidity by approximately $190 million

Permanently reduces future obligations by up to $90 million

SCOTTSDALE, Ariz., Dec. 14, 2023 (GLOBE NEWSWIRE) — TPI Composites, Inc. (Nasdaq:TPIC) (“TPI” or “the Company”) announced today that it has entered into a binding agreement (the “Agreement”) with funds managed by Oaktree Capital Management, L.P. (“Oaktree”) to refinance Oaktree’s outstanding Series A Preferred Stock holdings in the Company. The refinancing closed concurrently with the execution of the Agreement.

Read more at globenewswire.com

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