Superior Industries Announces Closing of Senior Financing Facility

Transaction enhances liquidity and financial flexibility to support long-term strategic plan

SOUTHFIELD, Mich.--(BUSINESS WIRE)--Superior Industries International, Inc. (“Superior” or the “Company”) today announced the successful closing of a senior financing facility with PNC Bank, N.A.

The financing strengthens Superior’s liquidity position, provides enhanced financial flexibility, and establishes a committed banking relationship to support the Company’s operating priorities and long-term strategic plan. The financing also provides additional capacity to execute key initiatives across Superior’s global operations while continuing to serve customers and suppliers.

“The 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,” said Michael Dorah, President and Chief Executive Officer of Superior. “With 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.”

“We 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,” said Bobby LaRoche, Managing Director at Oaktree Capital Management, on behalf of Superior’s investor group. “Michael 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’s employees and look forward to supporting the Company’s continued progress.”

Crown Partners served as exclusive financial advisors to Superior Industries in connection with the transaction. Goldberg Kohn Ltd. served as legal counsel to Superior.

About Superior Industries

Superior 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.

About PNC Bank, N.A.

PNC 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.