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Asbury Automotive amends loans, revising restricted payments basket
By Sara Rosenberg
New York, Nov. 16 - Asbury Automotive Group Inc. amended its revolving credit facility and floor plan facility on Tuesday, increasing the restricted payments basket to $50 million from $25 million, according to an 8-K filed with the Securities and Exchange Commission.
In addition, the amendment increased the permitted real estate debt allowance to $30 million from $12 million.
Bank of America is the administrative agent on the revolver and JPMorgan is the agent on the floor plan facility.
Asbury is a Duluth, Ga.-based automotive retailer.
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