Superior Industries Announces Refinancing Of Senior Secured Term Loan To $520M And Redemption Of €217M Senior Notes Due 2025; Reduces Total Debt From $627M To $521M
Portfolio Pulse from Benzinga Newsdesk
Superior Industries has announced the refinancing of its senior secured term loan to $520 million and the redemption of €217 million senior notes due 2025. This move reduces the company's total debt from $627 million to $521 million, enhancing financial flexibility for growth strategy execution and long-term shareholder value.
August 15, 2024 | 12:41 pm
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Superior Industries has refinanced its senior secured term loan to $520 million and redeemed €217 million senior notes due 2025, reducing total debt from $627 million to $521 million. This move enhances the company's financial flexibility for executing its growth strategy and increasing long-term shareholder value.
The refinancing and debt reduction significantly improve Superior Industries' financial position, providing more flexibility for growth initiatives and potentially increasing shareholder value. This is likely to have a positive short-term impact on the stock price.
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