Ashurst advises SMP on $750 Million Credit Facility

Global law firm Ashurst has advised Standard Motor Products, Inc. ('SMP') on its new $750 million senior secured credit facility with JPMorgan Chase Bank, N.A. as administrative agent and a syndicate of lenders, which includes a $440 million multi-currency revolving credit facility and $310 million of delayed draw term loans.

The term loans and a portion of the revolving credit facility will be used to finance SMP's previously announced acquisition of AX V Nissens III ApS.

The Ashurst team was led by partner Michael Neary, supported by senior associate Nathan Huynh and associate Yanni Thanopoulos. Tax advice was provided by partner Sharon Kim.