SUPERIOR INDUSTRIES INTERNATIONAL, INC. (NYSE:SUP) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On June29, 2018, Superior Industries International, Inc. (the “Company”) announced that it entered into the Fourth Amendment (the “Amendment”) to its existing Credit Agreement dated as of March22, 2017 (as amended, the “Credit Agreement”), among the Company, certain of its subsidiaries, Citibank, N.A., as Administrative Agent and Collateral Agent, and JP Morgan Chase Bank, N.A., as the Replacement Term Lender. A copy of the Amendment is attached hereto as Exhibit 10.1 and a copy of the press release is attached hereto as Exhibit 99.1.
The Amendment reprices the Company’s $384.8million existing term loans at a fluctuating rate of interest per year based on the London Interbank Offering Rate (“LIBOR”), plus an applicable rate of 4.00percent per annum, from an interest rate of LIBOR plus an applicable rate of 4.50percent per annum. The terms and conditions under the Credit Agreement are otherwise substantially the same as those prior to the Amendment.
The description of the Amendment set forth above is qualified in its entirety by reference to the Amendment filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.
|Item 1.01||Financial Statements and Exhibits|
SUPERIOR INDUSTRIES INTERNATIONAL INC ExhibitEX-10.1 2 d858025dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 FOURTH AMENDMENT TO CREDIT AGREEMENT FOURTH AMENDMENT TO CREDIT AGREEMENT (this Agreement or the Amendment),…To view the full exhibit click
About SUPERIOR INDUSTRIES INTERNATIONAL, INC. (NYSE:SUP)
Superior Industries International, Inc. is engaged in the design and manufacture of aluminum wheels for sale to original equipment manufacturers (OEMs). The Company supplies cast aluminum wheels to automobile and light truck manufacturers, with wheel manufacturing operations in the United States and Mexico. The Company offers wheels in a range of finishes, which include Bright Machined, Polished Face with Painted Window, Fully Painted, Premium Paint, Polished, Chrome Clad and Mirror Finish Ultra Bright Machining. The Company’s products, which are manufactured in its North American facilities, are delivered primarily to automotive assembly operations in North America for global OEMs. Its OEM aluminum wheels are primarily sold for factory installation, as either optional or standard equipment, on various vehicle models. As of December 31, 2015, the Company operated five manufacturing facilities in the United States and Mexico.