Motorcar Parts of America, Inc. Extends Credit Facility Maturity with Pnc Bank
December 13, 2023 at 08:00 am EST
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Motorcar Parts of America, Inc. announced it has extended the maturity date of the company?s $238.62 million revolver credit facility led by PNC Bank, N.A. to December 2028, with enhancements that provide working capital flexibility, liquidity, and other favorable terms -- including opportunities to benefit from reduced interest rates. As previously disclosed, the company paid down its outstanding $11.25 million term loan during its fiscal 2024 second quarter.
Motorcar Parts of America, Inc. is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts. Its automotive aftermarket parts include alternators, starters, wheel bearings and hub assemblies, brake calipers, brake pads, brake rotors, brake master cylinders, brake power boosters, turbochargers, and diagnostic testing equipment. Its segments include the Hard Parts segment, which includes light duty rotating electric products, wheel hub products, and brake-related products; the Test Solutions and Diagnostic Equipment segment, which includes applications for combustion engine vehicles, test solutions and diagnostic equipment for the pre- and post-production of electric vehicles, and software emulation of power systems applications for the electrification of all forms of transportation; and the Heavy Duty segment, which includes non-discretionary automotive aftermarket replacement hard parts for heavy-duty truck, industrial, marine, and agricultural applications.
MOTORCAR PARTS OF AMERICA, INC. 
