secwatch.observer — SEC 8-K summary
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Issuer:     STANDARD MOTOR PRODUCTS, INC. (SMP)
CIK:        0000093389
Form:       8-K
Filed at:   2022-03-10T23:59:59+00:00
Accession:  0001140361-22-008942
Event type: debt
Sentiment:  positive
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Standard Motor Products upsizes credit facility to $300M, replaces LIBOR with SOFR
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- Increased revolving credit facility from $250M to $300M via accordion draw of $50M.
- Replaced LIBOR with Term SOFR as benchmark rate; maturity unchanged.
- Up to $50M to fund working capital for sales growth and support customer inventory amid supply chain constraints.
- Trumpet Holdings added as a U.S. Borrower under the credit agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/93389/000114036122008942/0001140361-22-008942-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/93389/000114036122008942/brhc10034906_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-008942

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer