Superior Industries International repriced its $384.8 million term loan B. According to a related 8-K filing, Citibank served as administrative and collateral agent, while JPMorgan Chase served as replacement term lender.
The amendment reduced the interest rate spread from LIBOR plus 4.50% to LIBOR plus 4.00%.
The lower interest rate is expected to reduce the company’s annual interest expense by approximately $2 million.
Southfield, MI-based Superior is an aluminum wheel supplier for OEMs and the European aftermarket.
