Federal-Mogul Holdings entered into an amendment to Federal-Mogul Corp’s existing term loan and revolving credit agreement that, among other things, provides for a new term loan facility of $700 million due April 2018 and a new term loan facility of $1.9 billion due April 2021.

According to an 8-K filed April 14, 2014, Citicorp USA acted as administrative agent, JPMorgan Chase acted as syndication agent, and Wachovia Capital Finance and Wells Fargo Foothill acted as co-documentation agents with respect to a new tranche B term loan facility and a new tranche C term loan facility.

Proceeds of the new term loans will be used to repay term loans outstanding under the existing credit agreement. In addition, under the amendment to the existing credit agreement, Federal-Mogul Holdings will assume all of the rights and obligations of Federal-Mogul Corp. under its existing $550 million revolving credit facility.

“We are pleased with this transaction as it positions the company favorably for the future by extending loan maturity dates at competitive interest rates and strengthens the liquidity and financial profile of the company,” said Rajesh Shah, SVP and CFO for Federal-Mogul Holdings Corporation.

The company earlier announced that Federal-Mogul Corp. became a direct, wholly owned operating subsidiary of a new public holding company, Federal-Mogul Holdings Corp.

Federal-Mogul Holdings is a global supplier of products and services to the world’s manufacturers and servicers of vehicles and equipment in the automotive, light, medium and heavy-duty commercial, marine, rail, aerospace, power generation and industrial markets.