ArvinMeritor

(ARM)

, a supplier of components to automakers, said Friday that it has signed agreements for two new senior secured credit facilities.

One is a $980 million revolving credit line maturing in 2011, and the other is a $170 million term loan that matures in 2012. The facilities were arranged by JP Morgan Securities and Citigroup Global Markets.

"This improvement to our credit facilities allows us to extend maturities and substantially increase our company's liquidity," the Troy, Mich., company said. "We're pleased with the success of this transaction and the positive impact it will have for our company going forward."

ArvinMeritor's shares were trading at $15.92, down 12 cents.

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