Unique Fabricating and Unique-Intasco Canada entered into a second amendment to their credit agreement dated April 29, 2016 with Citizens Bank as administrative agent.

The amendment converts $4 million of currently outstanding borrowings under the $30 million revolving line of credit under the credit agreement into an additional $4 million term loan (term loan II) to the U.S. borrower, Unique Fabricating.

The term loan II is payable in quarterly principal installments of $200,000 each, commencing on September 30, 2017, with the remaining principal amount due at the maturity date. The conversion of a portion of the outstanding borrowings under the revolving line of credit will not reduce the aggregate amount available to be borrowed under it, which remains at $30 million.

The amendment also increased the amount of eligible inventory and eligible Mexican accounts receivable used in determining the amounts available to be borrowed under the revolving line of credit.

Unique engineers and manufactures multi-material, die-cut, and molded parts to all automotive OEMs, their major Tier One suppliers and the industrial appliance market. It produces parts made of foam, rubber, and plastic components utilized in noise, vibration and harshness management.