CVG secures $210M in senior secured credit facilities, extends maturity to 2030

Commercial Vehicle Group, Inc.

$95M term loan with TCW at SOFR+9.75% and $115M ABL with BofA at SOFR+1.75%, both maturing June 27, 2030.
Proceeds used to refinance $120.1M of existing debt; company highlights increased financial flexibility.
Issued five-year warrants for 3,934,776 shares at exercise prices of $1.58 and $2.07; company can repurchase up to 50%.
Covenants: total leverage ratio starts at 7.25x stepping to 4.00x; capex capped at $20M/yr; $15M minimum liquidity.
CFO expects to deleverage through free cash flow and debt paydown.

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