---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-057421"
form_type: "8-K"
ticker: "MPAA"
cik: "0000918251"
company_name: "MOTORCAR PARTS OF AMERICA INC"
filed_at: "2023-12-13T23:59:59+00:00"
generated_at: "2026-06-07T13:55:00.770424+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Motorcar Parts extends $238.62M revolver maturity to Dec 2028 with PNC Bank

## Summary
- Extended maturity of $238.62M revolver credit facility to December 2028, with enhancements providing working capital flexibility.
- Pricing grid: Term SOFR margin ranges 2.75%-3.25%; base rate margin 1.75%-2.25% based on average daily undrawn availability.
- Fixed Charge Coverage Ratio now a springing covenant, tested only if undrawn availability <22.5% of revolving commitments.
- Company paid down $11.25M term loan during fiscal Q2 2024, reducing debt.
- CEO Selwyn Joffe highlighted improved terms and strengthened relationship with PNC and syndicate.

## SEC filing metadata
- accession: 0001140361-23-057421
- form_type: 8-K
- ticker: MPAA
- cik: 0000918251
- company_name: MOTORCAR PARTS OF AMERICA INC
- filed_at: 2023-12-13T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/918251/000114036123057421/0001140361-23-057421-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/918251/000114036123057421/ef20016499_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-057421
- JSON: https://secwatch.observer/filing/0001140361-23-057421.json
- Plain text: https://secwatch.observer/filing/0001140361-23-057421.txt

## Key facts
- Debt Financings
  MOTORCAR PARTS OF AMERICA INC amended credit facility of not specified with PNC Bank, N.A. at 2.75% to 3.25% for Term SOFR loans, 1.75% to 2.25% for base rate loans maturing December 12, 2028.
  - Instrument: credit facility
  - Principal: not specified
  - Counterparty: PNC Bank, N.A.
  - Rate: 2.75% to 3.25% for Term SOFR loans, 1.75% to 2.25% for base rate loans
  - Maturity: December 12, 2028
  - Event: amendment
  source text: On December 12, 2023, Motorcar Parts of America, Inc. (the “Company”) amended its Amended and Restated Revolving Credit, Term Loan and Security Agreement (as amended to date, the “Loan Agreement”) by entering into the Eighth Amendment to Loan Agreement (the “Eighth Amendment”) with D & V Electronics Ltd., Dixie Electric Ltd., and Dixie Electric Inc., as the Canadian borrowers, PNC Bank, N.A., as agent, and the financial institutions party thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/918251/000114036123057421/0001140361-23-057421-index.htm
- Material Agreements
  MOTORCAR PARTS OF AMERICA INC amended Eighth Amendment to Loan Agreement with D & V Electronics Ltd., Dixie Electric Ltd., and Dixie Electric Inc., as the Canadian borrowers, PNC Bank, N.A., as agent, and the financial institutions party thereto valued at extended term to December 12, 2028; amended pricing grid with Applicable Margin ranging from 2.75% t (effective 2023-12-12).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: D & V Electronics Ltd., Dixie Electric Ltd., and Dixie Electric Inc., as the Canadian borrowers, PNC Bank, N.A., as agent, and the financial institutions party thereto
  - Value: extended term to December 12, 2028; amended pricing grid with Applicable Margin ranging from 2.75% t
  - Effective: 2023-12-12
  source text: On December 12, 2023, Motorcar Parts of America, Inc. (the “Company”) amended its Amended and Restated Revolving Credit, Term Loan and Security Agreement (as amended to date, the “Loan Agreement”) by entering into the Eighth Amendment to Loan Agreement (the “Eighth Amendment”) with D & V Electronics Ltd., Dixie Electric Ltd., and Dixie Electric Inc., as the Canadian borrowers, PNC Bank, N.A., as agent, and the financial institutions party thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/918251/000114036123057421/0001140361-23-057421-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.