April 8, 2010 (FinancialWire) — Miller Industries, Inc. (NYSE: MLR) said that it has entered into a new $20 million unsecured revolving credit facility with First Tennessee Bank National Association.

The company said its new facility replaces its previous senior secured credit facility that was scheduled to mature in June 2010. The new facility matures on April 6, 2012 and bears interest at rates equal to 1.75% above the applicable LIBOR rate.

Miller said there were no loans outstanding under the previous senior secured credit facility at the time of signing. The company added that it has no immediate plans to draw down any amount under the new facility.

Tennessee-based Miller Industries is a manufacturer of towing and recovery equipment, and markets its towing and recovery equipment under a number of brands, including Century, Vulcan, Chevron, Holmes, Challenger, Champion, Jige, Boniface and Eagle.

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