STANDARD MOTOR PRODUCTS, INC. (NYSE:SMP) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.
Entry into a Material Definitive Agreement
On December 10, 2018, Standard Motor Products, Inc. (the “Company”) and its wholly-owned subsidiary, SMP Motor Products Ltd., entered into an amendment to the Credit Agreement, dated as of October 28, 2015, with JPMorgan Chase Bank, N.A., as agent, and a syndicate of lenders for a senior secured revolving credit facility. The amendment, among other things, extends the maturity date to December 2023 and maintains the aggregate principal amount of the lender commitments at $250 million, which the Company may increase, subject to certain conditions, at any time by up to an additional $50 million.
The Company maintains ordinary banking relationships with JPMorgan Chase Bank, N.A., certain of the other lenders and their respective affiliates. For these services, the parties have received, and may in the future receive, customary compensation and expense reimbursement.
The descriptions set forth above are qualified in their entirety by reference to the First Amendment to Credit Agreement filed herewith as Exhibit 10.1.
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Item 9.01. |
Financial Statements and Exhibits |
| 10.1 |
First Amendment to Credit Agreement, dated as of December 10, 2018, among Standard Motor Products, Inc. and SMP Motor Products Ltd., as borrowers, JPMorgan Chase Bank, N.A., as agent and lender, and the other lenders thereto. |
STANDARD MOTOR PRODUCTS, INC. Exhibit
EX-10.1 2 ex10_1.htm EXHIBIT 10.1 Exhibit 10.1 FIRST AMENDMENT TO CREDIT AGREEMENT THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”),…
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About STANDARD MOTOR PRODUCTS, INC. (NYSE:SMP)
Standard Motor Products, Inc. is a manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a focus on heavy duty, industrial equipment and the original equipment service market. The Company operates through two segments: Engine Management Segment and Temperature Control Segment. The Engine Management Segment manufactures and remanufactures ignition and emission parts, ignition wires, battery cables, fuel system parts and sensors for vehicle systems. The Temperature Control Segment manufactures and remanufactures air conditioning compressors, air conditioning and heating parts, engine cooling system parts, power window accessories and windshield washer system parts. The Company sells its products to warehouse distributors, large retail chains, original equipment manufacturers and original equipment service part operations in the United States, Canada, Latin America and Europe.