Power solutions international announces extension to $50 million shareholder loan agreement with weichai america

Wood dale, ill., dec. 02, 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 amended and restated its $50 million shareholder's loan agreement with its majority stockholder, weichai america corp. (“weichai”), dated as of november 29, 2022 (the “third shareholder's loan agreement”), to extend the loan maturity date to november 30, 2023. the $50 million loan under the third shareholder's loan agreement has been fully drawn as of the date of this report and is subordinated in all respects to the company's existing $130 million senior secured revolving credit facility with standard chartered bank (all of which has been fully borrowed as of december 2, 2022).
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