JPMorgan Agents Superior Industries $100MM Revolver
Aluminum wheel manufacturer Superior Industries International announced it successfully closed a $100 million senior secured revolving credit facility with a group of lenders led by JPMorgan Chase as administrative agent.
As previously announced, Superior entered into a commitment letter with J.P. Morgan Securities, as lead arranger, JPMorgan Chase Bank, as administrative agent and Wells Fargo Bank, pursuant to which the lead arranger agreed to structure and arrange a senior secured revolving credit facility in an initial aggregate principal amount of $100 million.
On December 19, 2014, Superior entered into a senior secured credit agreement that consists of a revolving credit facility in an initial aggregate principal amount of $100 million and, which has a term of five years, expiring on December 19, 2019. The facility also contains an expansion feature providing for additional revolving credit or term loans in an amount up to $50 million, which remain uncommitted to by any lenders.