WOOD DALE, Ill., April 21, 2022 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced today that it entered into an additional shareholder’s loan agreement with its majority stockholder, Weichai America Corp. (“Weichai”), dated as of April 20, 2022 (the “Fourth Shareholder’s Loan Agreement”). The Fourth Shareholder’s Loan Agreement, which matures on March 31, 2023, provides the Company with access to up to $30 million of credit at the discretion of Weichai to supplement the Company’s working capital. The Fourth Shareholder’s Loan Agreement is subordinated in all respects to the Company’s existing $130 million uncommitted senior secured revolving credit facility with Standard Chartered Bank (all of which has been fully borrowed as of April 20, 2022).
Power Solutions International Announces Additional $30 Million Shareholder Loan Agreement With Weichai America
Apr 21, 2022
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