Auto Parts Supplier Autokiniton Shelves Plan to Amend and Extend ~$1.05 Billion Loan

On November 7, according to a person familiar with the matter, auto parts supplier Autokiniton US Holdings Inc. has shelved an attempt to amend and extend a leveraged loan agreement of approximately $1.05 billion. Previously, the company had refined the terms by shortening the proposed loan extension by one year to 2030, raising the loan discount to 97.5 cents per $1 of face value, and setting the interest rate at the benchmark rate plus 4.75 percentage points, at the high end of the initially discussed range.