Motorcar Parts of America extends $238.62M credit facility to 2031

Motorcar Parts of America, Inc. (Nasdaq: MPAA) has extended its $238.62 million revolving credit facility with PNC Bank, N.A., pushing the maturity date to August 2031, according to a press release from the company.

The amended facility includes terms the company said provide working capital flexibility and liquidity. Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America, said the extension "recognizes the company's milestones and solid position within the automotive aftermarket."

Peter Mardaga, head of PNC Business Credit, said the extension "reflects PNC's confidence in Motorcar Parts of America, its leadership team and its strategic direction."

Motorcar Parts of America is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts, including alternators, starters, wheel bearings, brake components, and diagnostic testing equipment. The company sells its products to automotive retail outlets and the professional repair market in the United States, Canada, and Mexico.

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