Motorcar Parts of America has extended the maturity date of its $238.62 million revolving credit facility led by PNC Bank to August 2031. The amended facility includes enhancements that provide working capital flexibility, liquidity and other favorable terms. Chairman, President and CEO Selwyn Joffe said the extension recognizes the company's milestones and solid position within the automotive aftermarket, and reinforces its strong relationship with PNC Bank and its lending syndicate. He highlighted the company's expansion of its brand portfolio, including the recent purchase of intellectual and digital property associated with the Centric Parts brake brands and its Quality-Built brand, as important catalysts to support continued strategic growth. Peter Mardaga, head of PNC Business Credit, stated the extension reflects PNC's confidence in Motorcar Parts of America, its leadership team and its strategic direction.
Motorcar Parts of America IncExtends credit facility to 2031, enhancing liquidity and financial flexibility.
PNC Financial Services Group IncPNC Bank leads the amended credit facility, reinforcing its lending relationship.
