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.
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