 NEW ALBANY, Ohio, May 03, 2021 GLOBE NEWSWIRE -- CVG NASDAQ: CVGI CVG or the Company today announced that on April 30, 2021 it had closed on 275 million in senior secured credit facilities, consisting of a 150 million Term Loan A the Term Loan A and a 125 million Revolving Credit Facility the Revolver and together with the Term Loan A the Senior Secured Credit Facilities. The Company used a portion of the proceeds of the Senior Secured Credit Facilities to pay off its existing Term Loan B and Asset Backed Loan Facility which at April 30, 2021 had outstanding principal of 151.6 million and 11.3 million respectively. CVG expects to reduce its interest expense by approximately 3.1 million on a full quarter basis as a result of this transaction. 