05:03 PM EST, 01/02/2025 (MT Newswires) -- NN (NNBR) said Thursday it signed an asset-backed loan credit agreement that will provide a $50 million revolving credit facility.

Proceeds from the new facility were used to refinance NN's asset-backed loan credit agreement, the company said.

The loan will mature on the earlier of Dec. 30, 2029, or 90 days before the maturity of the company's term loan, according to the company.

Shares of the company were down 2.2% in after-hours activity.