Power Solutions International secures $220 million revolving credit facility led by HSBC Bank USA
PSIX•Power Solutions International entered a $220 million committed revolving credit facility, replacing its prior $135 million Standard Chartered facility. The three-year facility matures Sept. 25, 2029, and term SOFR borrowings carry a 1.80% margin, down from 2.60%.
1. New credit facility
Power Solutions International entered a $220 million committed revolving credit facility, replacing its prior Standard Chartered facility and increasing committed borrowing capacity from $135 million. HSBC Bank USA is administrative agent; ANZ, Bank of China Chicago and BNP Paribas are participating lenders.
2. Terms and maturity
The facility matures on Sept. 25, 2029. Borrowings are priced at term SOFR plus 1.80% or an alternate base rate plus a margin; the prior SOFR margin was 2.60%. The company said the increased capacity lifts liquidity for growth and strategic initiatives.
