Adient to draw $825 million under asset-based revolver

By Wendy Van Sickle

Columbus, Ohio, March 20 – Adient plc gave notice that it will on March 26 borrow $825 million under its asset-based revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.

Approximately $175 million will remain available under the revolver under the ABL credit agreement with JPMorgan Chase Bank, NA as administrative agent. The current blended interest rate for the borrowings under the revolving line of credit is 2.33%.

Adient is a Plymouth, Mich.-based manufacturer of automotive seating.

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