Motorcar Parts amends revolver to lift commitments to $40 million

By Marisa Wong

Madison, Wis., June 16 – Motorcar Parts of America, Inc. amended its amended and restated financing agreement on June 12 with Cerberus Business Finance, LLC as collateral agent and PNC Bank, NA as administrative agent to increase revolver commitments by $10 million to $40 million, according to an 8-K filing with the Securities and Exchange Commission.

Motorcar Parts entered into the first amendment to its financing agreement on June 12.

The amendment also increases the maximum amount of capital expenditures to $3.2 million for fiscal year 2014, $7 million for fiscal year 2015 and $4 million for each of fiscal years 2016 and 2017. The maximum amount of capital expenditures for fiscal year 2018 remains at $2.5 million.

The company entered into the amended and restated facility, which also included a $95 million term loan, in November 2013.

Los Angeles-based Motorcar Parts provides remanufactured alternators and starters for the automotive aftermarket.

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