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Superior Industries International (SUP) has issued an announcement.
Superior Industries International, Inc. recently revamped its credit strategy by amending its existing term loan credit agreement and securing a new $520 million term loan slated for various financial maneuvers, including refinancing existing loans and paying off senior notes. These strategic financial moves are geared towards bolstering the company’s fiscal stability and fostering growth. The new term loan comes with flexible prepayment options and matures in December 2028, while the concurrent amendment to their revolving credit agreement adjusts financial covenants and extends the maturity date to December 2027. Both credit agreements are backed by the company’s and its significant subsidiaries’ assets, ensuring a fortified borrowing structure.
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