Power Solutions International Announces New Credit Agreement with Standard Chartered Bank and New Shareholder Loan Agreement with Weichai America
POWER SOLUTIONS INTL INC (PSIX)
US:NASDAQ Investor Relations:
investors.psiengines.com
Company Research
Source: GlobeNewswire
WOOD DALE, Ill., Sept. 06, 2024 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) closed on its new uncommitted senior secured revolving credit agreement (the “Credit Agreement”), with Standard Chartered Bank (“Standard Chartered”) and two other lenders. The Credit Agreement allows the Company to borrow up to $120 million at a lower interest rate than previously available and expires on August 30, 2025. As part of the closing of the Credit Agreement, the Company made an initial draw in the amount of $100 million. The Company utilized the amount drawn under the Credit Agreement (i) to repay the outstanding balance of approximately $40 million under the Company’s credit agreement, dated March 22, 2024, by and among the Company and Standard Chartered (the “Existing Credit Agreement”); and (ii) to repay the total outstanding balance of approximately $60 million under the $30M Second Amended and Restated Shareholder’s Loan Agreement, dated as of March 22,
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News
- Improving Margins Are The Driving Force For Power Solutions International's Stock [Seeking Alpha]Seeking Alpha
- Power Solutions International Announces New Credit Agreement with Standard Chartered Bank and New Shareholder Loan Agreement with Weichai America [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Power Solutions: Uncertain Revival [Seeking Alpha]Seeking Alpha
- Power Solutions International, Inc. (OTCMKTS: PSIX) had its price target raised by analysts at Craig Hallum from $10.00 to $22.00. They now have a "buy" rating on the stock.MarketBeat
- Power Solutions International Announces Record Second Quarter 2024 Financial Results [Financial Post (Toronto, Ontario, Canada)]Financial Post
PSIX
Sec Filings
- 9/26/24 - Form 4
- 9/24/24 - Form 4
- 9/10/24 - Form 4
- PSIX's page on the SEC website