Motorcar Parts Of America Announces Increased Revolving Credit Facility

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Motorcar Parts Of America Announces Increased Revolving Credit Facility

“The amended credit facility provides the company with additional financial flexibility to execute management’s strategic targets for growth and profitability," said Selwyn Joffe, chairman, president and CEO.

aftermarketNews Staff
By aftermarketNews Staff
Published:

Motorcar Parts of America Inc. announced recently it has entered into an amended credit facility agreement led by PNC Bank, National Association – resulting in a new increased aggregate facility of approximately $269 million, consisting of a $238.62 million revolver line and a $30 million term loan. 

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“The amended credit facility provides the company with additional financial flexibility to execute management’s strategic targets for growth and profitability. We are gratified by the ongoing support of PNC Bank, National Association and the loan syndicate, and look forward to a continued strong working relationship,” said Selwyn Joffe, chairman, president and CEO.

Additional details concerning the amended credit facility agreement are available in a related Form 8-K filing.


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