Benzinga | Jun 2, 2021 08:15AM EDT

Motorcar Parts Of America Extends Existing $269M Credit Facility To May 2026

Motorcar Parts of America, Inc. (NASDAQ:MPAA) today announced it has extended the maturity date of the loan agreement of the company's existing credit facility led by PNC Bank, N.A. to May 2026 -- including amendments which further enhance the company's strong liquidity base. The credit facility amount remains unchanged, with an aggregate facility of approximately $269 million -- consisting of a $238.62 million revolver and a $30 million term loan facility.

"The extension and related amendments recognize the company's strategic milestones and the further benefits we expect to realize from our investments. We are gratified by the ongoing support of PNC Bank and the loan syndicate, and look forward to a continued strong working relationship," said Selwyn Joffe, chairman, president and chief executive officer.

Additional details concerning the amended credit facility agreement are available in a related Form 8-K filing.