Commercial Vehicle Group entered into a $175 million secured credit facility with Bank of America as administrative agent.

The company may increase the amount outstanding under the term loan facility by $20 million plus (so long as the pro forma leverage ratio does not exceed 3.5x) additional incremental term loans. The term loan facility matures on April 12, 2023.

The company and each of its guarantor subsidiaries have granted liens in substantially all of their property to secure their respective obligations under the term loan agreement, guarantees and related documents.

The proceeds of the term loans incurred under the facility will be used, together with cash on hand to fund the redemption, satisfaction and discharge of all of the company’s outstanding 7.875% senior secured notes due 2019, pay related transaction costs, fees and expenses incurred in connection therewith, and for working capital and other lawful corporate purposes of the company.