PENDLETON, Ind. -- Remy International announced on Dec. 17 that it closed on a 5-year ABL Revolver and a 6-year $300 million term loan B with a coupon of 4.5 percent and LIBOR floor of 1.75 percent.

The company used the proceeds of the new term loan, along with cash on hand, and a draw on the ABL to repay the first lien, second lien and third lien debt originally issued in 2007.

"This positions Remy well for capturing the multitude of growth opportunities we see for both technology and market expansion," said Fred Knechtel, the company's CFO and treasurer.