PSI closes $120M credit facility with Standard Chartered, refinances $100M in debt

POWER SOLUTIONS INTERNATIONAL, INC.

New $120M uncommitted senior secured revolving credit facility with Standard Chartered; initial $100M draw.
Proceeds used to repay $40M prior credit facility and ~$60M in existing Weichai shareholder loans.
New $105M shareholder loan from Weichai; $35M outstanding as of Sep 4, 2024; subordinated.
Interest on credit facility = SOFR+2.00%; shareholder loan = SOFR+4.05%; both mature Aug 2025.
Credit agreement includes minimum EBITDA and interest coverage covenants for Q4 2024 and Q1/Q2 2025.

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