Superior Industries Announces Refinancing of All Existing Debt, Maturities Extended to December 2028
Superior Industries International (NYSE:SUP) has announced a comprehensive refinancing of its existing debt, extending maturities to December 2028. The company has upsized its Senior Secured Term Loan from $394 million to $520 million, with funds managed by Oaktree Capital Management and other investors providing the capital. This refinancing will enable Superior to redeem its outstanding €217,050,000 6.000% Senior Notes due 2025 and reduce total debt from $627 million to $521 million.
The refinancing strengthens Superior's balance sheet and enhances financial flexibility, supporting its long-term growth strategy. CEO Majdi Abulaban stated that with the European transformation substantially completed, Superior is well-positioned to drive profitable growth and generate long-term shareholder value.
Superior Industries International (NYSE:SUP) ha annunciato un rifinanziamento completo del suo debito esistente, estendendo le scadenze a dicembre 2028. L'azienda ha aumentato il suo prestito a termine senior garantito da 394 milioni di dollari a 520 milioni di dollari, con fondi gestiti da Oaktree Capital Management e altri investitori che forniscono il capitale. Questo rifinanziamento consentirà a Superior di rimborsare i suoi 217.050.000 € di Senior Notes al 6,000% in scadenza nel 2025 e di ridurre il debito totale da 627 milioni a 521 milioni di dollari.
Il rifinanziamento rafforza il bilancio di Superior e migliora la flessibilità finanziaria, sostenendo la sua strategia di crescita a lungo termine. Il CEO Majdi Abulaban ha dichiarato che con la trasformazione europea sostanzialmente completata, Superior è ben posizionata per guidare una crescita redditizia e generare valore per gli azionisti a lungo termine.
Superior Industries International (NYSE:SUP) ha anunciado un refinanciamiento integral de su deuda existente, extendiendo los vencimientos hasta diciembre de 2028. La empresa ha aumentado su Préstamo a Plazo Senior Garantizado de 394 millones de dólares a 520 millones de dólares, con fondos gestionados por Oaktree Capital Management y otros inversores proporcionando el capital. Este refinanciamiento permitirá a Superior redimir sus Notas Senior de €217,050,000 al 6.000% con vencimiento en 2025 y reducir la deuda total de 627 millones a 521 millones de dólares.
El refinanciamiento fortalece el balance de Superior y mejora la flexibilidad financiera, apoyando su estrategia de crecimiento a largo plazo. El CEO Majdi Abulaban declaró que, con la transformación europea sustancialmente completada, Superior está bien posicionada para impulsar un crecimiento rentable y generar valor a largo plazo para los accionistas.
슈페리어 인더스트리즈 인터내셔널(NYSE:SUP)은 기존 채무에 대한 포괄적인 재융자를 발표하며 만기를 2028년 12월로 연장했습니다. 회사는 Oaktree Capital Management 및 기타 투자자들이 자본을 제공함에 따라 선순위 담보 만기 대출을 3억 9,400만 달러에서 5억 2,000만 달러로 증액했습니다. 이번 재융자를 통해 슈페리어는 2025년 만기인 2억 1,705만 유로의 6.000% 선순위 채권을 상환하고 총 부채를 6억 2,700만 달러에서 5억 2,100만 달러로 줄일 수 있습니다.
재융자는 슈페리어의 대차대조표를 강화하고 재정적 유연성을 높이며, 장기 성장 전략을 지원합니다. CEO Majdi Abulaban은 유럽의 변혁이 상당히 완료됨에 따라 슈페리어가 수익성 있는 성장을 이끌고 장기적인 주주 가치를 창출할 수 있는 좋은 위치에 있다고 말했습니다.
Superior Industries International (NYSE:SUP) a annoncé un refinancement complet de sa dette existante, prolonger les échéances jusqu'en décembre 2028. L'entreprise a augmenté son Prêt Senior Sécurisé de 394 millions de dollars à 520 millions de dollars, les fonds gérés par Oaktree Capital Management et d'autres investisseurs fournissant le capital. Ce refinancement permettra à Superior de rembourser ses Obligations Senior de 217 050 000 € à 6,000 % venant à échéance en 2025 et de réduire sa dette totale de 627 millions à 521 millions de dollars.
Le refinancement renforce le bilan de Superior et améliore la flexibilité financière, soutenant sa stratégie de croissance à long terme. Le PDG Majdi Abulaban a déclaré qu'avec la transformation européenne largement achevée, Superior est bien positionnée pour stimuler une croissance rentable et générer de la valeur pour les actionnaires à long terme.
Superior Industries International (NYSE:SUP) hat eine umfassende Refinanzierung seiner bestehenden Schulden angekündigt, die Fälligkeiten bis Dezember 2028 verlängert. Das Unternehmen hat seinen Senior Secured Term Loan von 394 Millionen Dollar auf 520 Millionen Dollar erhöht, wobei von Oaktree Capital Management und anderen Investoren verwaltete Fonds das Kapital bereitstellen. Diese Refinanzierung wird es Superior ermöglichen, seine ausstehenden 217.050.000 € 6,000% Senior Notes, die 2025 fällig werden, einzulösen und die Gesamtschuld von 627 Millionen Dollar auf 521 Millionen Dollar zu reduzieren.
Die Refinanzierung stärkt die Bilanz von Superior und verbessert die finanzielle Flexibilität, was die langfristige Wachstumsstrategie unterstützt. CEO Majdi Abulaban erklärte, dass Superior nach dem weitgehend abgeschlossenen europäischen Transformationsprozess gut positioniert sei, um profitables Wachstum zu erzielen und langfristigen Shareholder-Wert zu schaffen.
- Reduced total debt from $627 million to $521 million
- Extended debt maturities to December 2028
- Increased financial flexibility to support growth strategy
- Substantially completed European transformation, improving operating and competitive position
- None.
Insights
Superior Industries' debt refinancing marks a significant financial restructuring, reducing total debt from
This refinancing demonstrates investor confidence in Superior Industries' long-term prospects, with notable institutions like Oaktree Capital and Eldridge Industries participating. The debt reduction and extended maturities could positively impact the company's credit profile, potentially leading to improved terms for future financing. The market's reaction to this news will be important to watch, as it may reflect investors' perception of the company's financial health and growth potential. The emphasis on the European transformation suggests a strategic focus on operational efficiency, which could be a key driver for future profitability and market competitiveness.
The refinancing transaction appears to be structured to comply with securities laws, as evidenced by the disclaimer about not constituting an offer to sell or solicitation to buy securities. The involvement of reputable legal counsel (Weil, Gotshal & Manges LLP) suggests thorough due diligence in the process. Investors should note that while the refinancing provides financial benefits, it also involves new contractual obligations under the Term Loan agreement. The amendment to the existing Revolving Credit Agreement may contain covenants or terms that could affect operational flexibility. Shareholders should review any subsequent SEC filings for full disclosure of material terms and potential risks associated with this refinancing.
Refinancing enhances financial flexibility and supports long-term growth strategy
Funds managed by Oaktree Capital Management, L.P. (“Oaktree”) as well as Eldridge Industries, Blue Torch Capital LP, TCW Private Credit Group and Arini provided the capital to upsize the existing Senior Secured Term Loan (“Term Loan”) from
These funds, in addition to a portion of cash on the balance sheet, will be used to redeem the Senior Notes in their entirety, pay fees and expenses in connection with the foregoing and for general corporate purposes. The redemption will be made in accordance with the terms of the indenture governing the Senior Notes and the terms of the notice of redemption being delivered to all registered holders of the Senior Notes.
“We are pleased to have refinanced our debt, enabling the redemption of the Senior Notes. Through this transaction, we have reduced total debt from
Centerview Partners served as financial advisor and Weil, Gotshal & Manges LLP served as legal counsel to Superior on the transaction.
This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy the Senior Notes or any other securities.
About Superior Industries
Superior is one of the world’s leading aluminum wheel suppliers. Superior’s team collaborates with customers to design, engineer, and manufacture a wide variety of innovative and high-quality products utilizing the latest light weighting and finishing technologies. Superior serves the European aftermarket with the brands ATS®, RIAL®, ALUTEC®, and ANZIO®. Headquartered in
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Investor and Media Inquiries
Superior Investor Relations
(248) 234-7104
Investor.Relations@supind.com
Source: Superior Industries International, Inc.
FAQ
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