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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
JPMorgan Chase Bank Agents New $750MM Credit Facility for Standard Motor Products
Monday, September 23, 2024
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Lenders/Participants
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JPMorgan Chase Bank [Agent]
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Structure
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$310MM Term Loans; $440MM Revolving Credit Facility
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Amount
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$750.000
Million
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Borrower(s)
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Standard Motor Products
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Description
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A new five-year $750 million 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 rate swap agreements to fix the interest rate on approximately $200 million of borrowings. The credit facility replaces SMP’s existing facility and will mature in September 2029. Proceeds will be used to fund the acquisition of Nissens Automotive and repay all outstanding borrowings under the company’s existing credit facility. It will also be used to pay certain fees and expenses that were incurred in connection with the credit facility, and for other general corporate purposes.
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Industry
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Automotive
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Location
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NY
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| Related Tags |
JPMorgan Chase Bank, Standard Motor Products
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ABL Advisor
Deal Tables
2025
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