SUPERIOR INDUSTRIES INTERNATIONAL INC: debt financing — Superior Industries secures $70M delayed draw loan; waives covenants through Sept 2025

SUPERIOR INDUSTRIES INTERNATIONAL INC

$70M delayed draw term facility; $10M funded June 4, 2025; remainder conditional on business milestones and lender satisfaction.
Interest at SOFR (3.5% floor) + 8.00%; undrawn commitment fee 0.50% p.a.; prepayment fee 5%.
Limited waiver of financial covenants for test period ending June 30, 2025; Accommodation Period through Sept 30, 2025.
Unwinding of hedging arrangements permitted; proceeds retained; new 13-week cash flow reporting and disbursement restrictions imposed.
Both Term Loan and Revolving Credit Agreements amended; existing terms otherwise remain in full force.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SUPERIOR INDUSTRIES INTERNATIONAL INC amended credit facility of not specified with Oaktree Fund Administration, LLC at not specified maturing not specified.

Instrument: credit facility
Principal: not specified
Counterparty: Oaktree Fund Administration, LLC
Rate: not specified
Maturity: not specified
Event: amendment

Exact text from the filing

The Term Loan Amendment also effected certain amendments to the terms of the existing Amendment and Restatement Date Term Loans (as defined in the Term Loan Agreement) under the Term Loan Agreement, including, among other things, to (i) permit the payment of interest thereon in kind and (ii) waive amortization payments during the Accommodation Period (as defined in the Term Loan Amendment).

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

SUPERIOR INDUSTRIES INTERNATIONAL INC incurred term loan of $70,000,000 delayed draw term loan facility, of which $10,000,000 was funded on June 4, 2025 with Oaktree Fund Administration, LLC at term SOFR (with a 3.50% per annum floor) plus 8.00% maturing not specified.

Instrument: term loan
Principal: $70,000,000 delayed draw term loan facility, of which $10,000,000 was funded on June 4, 2025
Counterparty: Oaktree Fund Administration, LLC
Rate: term SOFR (with a 3.50% per annum floor) plus 8.00%
Maturity: not specified
Event: incurrence

Exact text from the filing

On June 4, 2025, Superior Industries International, Inc. (the “Company”) entered into an amendment (the “ Term Loan Amendment ”) to its existing Amended and Restated Credit Agreement, dated as of August 14, 2024 (as amended, restated, amended and restated, supplemented or otherwise modified prior to the effectiveness of the Term Loan Amendment, the “ Existing Term Loan Agreement ” and, the Existing Term Loan Agreement as amended by the Term Loan Amendment, the “ Term Loan Agreement ”), by and among, inter alios , the Company, the lenders from time to time party thereto, Oaktree Fund Administration, LLC, as administrative agent, and JPMorgan Chase Bank, N.A., as collateral agent, pursuant to which, among other things, the Amendment No. 2 Delayed Draw Term Lenders (as defined in the Term Loan Amendment) party thereto agreed to provide an incremental $70,000,000 delayed draw term loan facility (the “ Delayed Draw Term Facility ”), of which $10,000,000 was funded on June 4, 2025 and the re

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Source: SEC EDGAR

accession 0001193125-25-137093

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