LOS ANGELES — Motorcar Parts of America (MPA) has announced a $15 million increase to its existing $35 million revolving credit facility with Union Bank, N.A. and Branch Banking & Trust Co.
At the end of MPA’s fiscal year on March 31, the company had no debt outstanding on its revolving credit facility and $7.5 million outstanding on its term loan.
"The increased credit facility further enhances the company’s liquidity position and will provide greater financial flexibility for the completion of our anticipated acquisition of Fenwick Automotive," said Selwyn Joffe, chairman, president and CEO.
