JPMorgan Agents Superior Industries Revolver
Superior Industries International announced that it has signed a commitment letter with J.P. Morgan Securities as lead arranger, JPMorgan Chase Bank as administrative agent and Wells Fargo Bank as syndication agent for a $100 million senior secured revolving credit facility.
The facility will have a term of five years and contain an expansion feature providing for additional revolving credit or term loans in an amount up to $50 million. The $50 million expansion feature has not yet been committed to by any lenders. The commitment and obligations of the lenders are subject to customary terms and conditions. Closing of the transaction is anticipated to occur prior to the end of the year.
The company anticipates using the facility for general corporate purposes and to take advantage of future opportunities to support profitable growth and create shareholder value.
Superior is a manufacturer of aluminum wheels for passenger cars and light-duty vehicles in North America.