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<\/a><\/a>\nThe financing strengthens Superior\u2019s liquidity position, provides enhanced financial flexibility, and establishes a committed banking relationship to support the Company\u2019s operating priorities and long-term strategic plan. The financing also provides additional capacity to execute key initiatives across Superior\u2019s global operations while continuing to serve customers and suppliers.<\/p>
\n\u201cThe closing of this senior financing facility marks an important milestone in strengthening Superior's capital structure and supporting the next phase of our strategic plan,\u201d said Michael Dorah, President and Chief Executive Officer of Superior. \u201cWith enhanced liquidity and a committed banking partner, we are well positioned to invest in our operations, support our customers and suppliers, and execute our strategic priorities.\u201d<\/p>
\n\u201cWe are pleased to support Superior as the Company enters this next phase with enhanced liquidity and a financing partner aligned with the needs of the business,\u201d said Bobby LaRoche, Managing Director at Oaktree Capital Management, on behalf of Superior\u2019s investor group. \u201cMichael and the Superior team have made meaningful progress refocusing the Company on its customers, operational execution, and core manufacturing strengths. We appreciate the dedication of Superior\u2019s employees and look forward to supporting the Company\u2019s continued progress.\u201d<\/p>
\nCrown Partners served as exclusive financial advisors to Superior Industries in connection with the transaction. Goldberg Kohn Ltd. served as legal counsel to Superior.<\/p>
\nAbout Superior Industries<\/b><\/p>
\nSuperior is a leading global supplier of aluminum wheels. The Company collaborates with customers to design, engineer, and manufacture innovative, high-quality products using advanced light-weighting and finishing technologies. Superior also serves the European aftermarket through its ATS, RIAL, ALUTEC, and ANZIO brands. Superior is headquartered in Southfield, Michigan. For more information, please visit www.supind.com<\/a>.<\/p> \nAbout PNC Bank, N.A.<\/b><\/p> \nPNC Bank, National Association is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking, including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance, and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com<\/a>.<\/p>