ANN ARBOR, Mich. — Affinia Group announced today that it has amended its $315 million senior secured revolving credit facility.
The amendment reduces drawn and undrawn pricing on the facility, extends the maturity date, modifies the conditions to making certain dividends, distributions, restricted payments and investments and modifies certain other provisions of the credit agreement.
"We are pleased with the outcome of this amendment to our credit facility and with our lender group who have supported the company and our initiatives," said Affinia CFO Tom Madden. "The move will lower our interest expense, while providing much greater flexibility for Affinia’s continued global growth."
Bank of America Merrill Lynch acted as lead arranger for the solicitation and syndication of the amendment and continues to act as administrative agent under the facility.