Ampco-Pittsburgh closes $100M asset-backed revolver with $30M accordion

AMPCO PITTSBURGH CORP

Entered into $100M five-year senior secured asset-backed revolving credit facility, maturing June 29, 2026.
Facility includes a $30M accordion feature, allowing increase to $130M with lender approval.
Interest rates at LIBOR + 2.00-2.50% or base rate + 1.00-1.50%; sublimits for LCs ($40M) and European borrowings ($30M).
Borrowers include Air & Liquid Systems, Union Electric Steel, Akers National Roll, and others; PNC Bank remains administrative agent.
CFO says facility provides increased liquidity, greater flexibility, and lower cost, supporting market recovery and growth plans.

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