Superior Industries International announced that it has successfully closed a $100 million senior secured revolving credit facility. As previously announced, Superior entered into a commitment letter with J.P. Morgan Securities LLC (the “Lead Arranger”), JPMorgan Chase Bank, N.A. (the "Administrative Agent") and Wells Fargo Bank, National Association, pursuant to which, subject to the terms and conditions therein, the lead arranger agreed to structure and arrange a senior secured revolving credit facility in an initial aggregate principal amount of $100 million. On December 19, 2014, Superior entered into a senior secured credit agreement that consists of a revolving credit facility (the “facility”) in an initial aggregate principal amount of $100 million, and which has a term of five years, expiring on December 19, 2019. The facility also contains an expansion feature providing for additional revolving credit or term loans in an amount up to $50 million, which remain uncommitted to by any lenders.

Superior intends to use the borrowings to finance the working capital needs, and for the general corporate purposes, of Superior and its subsidiaries, including, among other things, to pursue future opportunities and projects to support profitable growth and create shareholder value.

Superior is the largest manufacturer of aluminum wheels for passenger cars and light-duty vehicles in North America. From its plants in the U.S. and Mexico, the company supplies aluminum wheels to the original equipment market. Major customers include BMW, Chrysler, Ford, General Motors, Mitsubishi, Nissan, Subaru, Tesla, Toyota and Volkswagen.