10:34 AM EDT, 09/17/2024 (MT Newswires) -- Standard Motor Products ( SMP ) said Tuesday it has secured a new five-year $750 million credit facility with JPMorgan Chase's ( JPM ) JPMorgan Chase Bank subsidiary serving as the agent, and a syndicate of lenders.

The credit facility, which matures in September 2029, includes $310 million in term loans, a $440 million revolving credit line and multi-currency options, and will fund Nissens Automotive's acquisition, repay existing debt, cover related fees and support corporate needs, with interest on $200 million fixed via swaps.

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