Lear, an automotive technology company, entered into an agreement to refinance its existing credit facility. The amended and restated credit agreement extends the maturity of the company’s revolving credit facility to October 2026 from August 2024 and increases the facility’s size to $2 billion from $1.75 billion. Lear initiated these financing actions to extend the maturity of its existing agreement, to increase its financial flexibility and to take advantage of attractive market conditions.
Lenders under the new credit agreement include JPMorgan Chase Bank, BofA Securities, Barclays Bank, Citibank and HSBC Bank.
