UCI Holdings, the parent company of UCI International, announced it and certain of its subsidiaries entered into a senior secured asset-based revolving credit facility with an aggregate lender commitment of up to $125 million. Extensions of credit under the facility will be limited by a borrowing base calculated based on eligible inventory and eligible accounts receivable, subject to certain reserves and other adjustments.

According to a related 6-K filing, the lender group was led by Credit Suisse AG as administrative agent, collateral agent and issuing lender.

The proceeds of the loans made under the facility on closing were used to refinance in full, and terminate, all amounts due or outstanding under the company’s existing credit agreement and to pay related fees and expenses.

Lake Forest, IL-based UCI International is among North America’s largest and most diversified companies servicing the vehicle replacement parts market.