AMA Group (ASX:AMA) received binding credit commitments totaling AU$110 million from two unnamed Australian banks, according to a Monday filing with the Australian bourse.

The three-year loans comprise AU$80 million in revolving working capital debt facilities and AU$30 million in bank guarantee lines, per the filing.

Funds will be used to pay the auto parts company's existing debt facilities of AU$97.5 million, which will expire on Dec. 31, as well as to support operational and growth plans.

The transaction is subject to finalization of documentation and settlement of funds, the filing said.

The company's shares were down almost 2% in recent Monday trade.