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An announcement from Standard Motor Products ( (SMP) ) is now available.
Standard Motor Products, Inc. has secured a new $750 million credit facility with JPMorgan Chase Bank, N.A., enhancing its financial flexibility for future growth. The facility includes multi-currency revolving credit and term loan options that will support the acquisition of Nissens Automotive and general corporate needs. With a five-year maturity and options for interest rate swaps, this strategic move bolsters Standard Motor Products’ capital allocation and shareholder value ambitions.
See more insights into SMP stock on TipRanks’ Stock Analysis page.
