- Standard Motor Products Inc (NYSE:SMP) has entered into a new five-year $500 million credit facility, with JPMorgan Chase Bank N.A. as an agent and a syndicate of lenders.
- The facility includes a $100 million term loan and a $400 million revolving credit facility.
- In addition, SMP entered into an interest rate swap agreement to fix the interest rate on $100 million of borrowings.
- The new credit facility will mature in June 2027, and the proceeds will be used to repay outstanding borrowings and other general corporate purposes.
- Price Action: SMP shares traded higher by 1.88% at $41.25 on the last check Thursday.
André Leon Talley, Vogue Editor And Fashion Industry Icon, Dies At 73
André Leon Talley, the fashion editor and television personality who became one of the most influential experts on style, died on Tuesday at the age of 73 from a heart attack stemming from COVID-19 complications.
