Standard Motor Products signs new five-year USD500m million credit facility.
Auto Business News-June 3, 2022--Standard Motor Products signs new five-year USD500m million credit facility
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Auto Business News - 03 June 2022
Standard Motor Products, Inc. (NYSE: SMP), a US-based automotive parts manufacturer and distributor, has signed a new five-year USD500m million credit facility.
The credit facility, has JPMorgan Chase Bank, NA, serving as agent and a syndicate of lenders, and includes a USD100m term loan and USD400m revolving credit facility.
Standard Motor Products has also entered into an interest rate swap contract to fix the interest rate on USD100m of borrowings under the New Credit Facility. The new credit facility is to mature in June...
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