Standard Motor Products, Inc. Announces New $750 Million Credit Facility
SMPSMP(SMP) Prnewswire·2024-09-17 20:30

NEW YORK, Sept. 17, 2024 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, announced today it has entered into a new five-year 750millioncreditfacility,withJPMorganChaseBank,N.A.,asagent,andasyndicateoflenders(the"CreditFacility").TheCreditFacilityincludes750 million credit facility, with JPMorgan Chase Bank, N.A., as agent, and a syndicate of lenders (the "Credit Facility"). The Credit Facility includes 310 million of term loans and a $440 million revolving credit facility, and allows for borrowing in multiple currencies. In addition, SMP intends to use interest rat ...