SOUTHFIELD, Mich.–(BUSINESS WIRE)–Superior Industries International, Inc. (NYSE:SUP), one of the
world’s leading aluminum wheel suppliers for OEMs and the European
aftermarket, announced today that it has successfully repriced its
$384.8 million Term Loan B. The amendment reduces the interest rate
spread 0.50% from LIBOR plus 4.50% to LIBOR plus 4.00%. The amendment is
effective June 29, 2018.
The lower interest rate resulting from the amendment is expected to
reduce the Company’s annual interest expense by approximately $2 million.
About Superior Industries
Superior is one of the world’s leading aluminum wheel suppliers.
Superior’s team collaborates and partners with customers to design,
engineer and manufacture a wide variety of innovative and high quality
products utilizing the latest lightweighting and finishing technologies.
Superior also maintains leading aftermarket brands including ATS®,
RIAL®, ALUTEC®, and ANZIO®.
Headquartered in Southfield, Michigan, Superior is listed on the New
York Stock Exchange and is a component of Standard & Poor’s Small Cap
600 and Russell 2000 Indices. For more information, please visit www.supind.com.
This press release contains statements that are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include all statements
that do not relate solely to historical or current facts and can
generally be identified by the use of future dates or words such as
“may,” “should,” “could,” “will,” “expects,” “seeks to,” “anticipates,”
“plans,” “believes,” “estimates,” “intends,” “predicts,” “projects,”
“potential” or “continue” or the negative of such terms and other
comparable terminology. These statements are based on current
expectations, estimates, and projections about the Company’s business
based, in part, on assumptions made by management. These statements are
not guarantees of future performance and involve risks, uncertainties
and assumptions that are difficult to predict. Therefore, actual
outcomes and results may differ materially from what is expressed or
forecasted in such forward-looking statements due to numerous factors,
risks, and uncertainties discussed in the Company’s Securities and
Exchange Commission filings and reports, including the Company’s Annual
Report on Form 10-K for the year-ended December 31, 2017, Quarterly
Report on Form 10-Q for the quarter ended March 31, 2018 and other
reports from time to time filed with the Securities and Exchange
Commission. You are cautioned not to unduly rely on such forward looking
statements when evaluating the information presented in this press
release. Such forward-looking statements speak only as of the date on
which they are made and the Company does not undertake any obligation to
update any forward-looking statement to reflect events or circumstances
after the date of this release.
Superior Investor Relations: