PSI secures $220M revolving credit facility, replacing $135M line

Power Solutions International, Inc. (Nasdaq: PSIX) announced it has entered into a new $220.0 million committed revolving credit facility, replacing a prior $135.0 million facility with Standard Chartered Bank, which was repaid in full and terminated.

The three-year facility matures on September 25, 2029. Lenders include HSBC Bank USA, National Association, serving as administrative agent, along with Australia and New Zealand Banking Group Limited, Bank of China Limited's Chicago Branch, and BNP Paribas.

Borrowings under the new facility bear interest at the applicable Term Secured Overnight Financing Rate (SOFR) plus 1.80% per annum, or at an alternate base rate plus an applicable margin. The prior facility carried a SOFR spread of 2.60% per annum.

Chief Financial Officer Kenneth Li stated, "The increase in committed capacity from $135 million to $220 million, together with the reduction in our borrowing spread, strengthens our liquidity position and provides additional financial flexibility to support the Company's continued growth."

The Wood Dale, Illinois-based company designs, engineers, and manufactures emission-certified engines and power systems for industrial, transportation, and power generation markets. Additional details about the facility are included in a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission.

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