American Tire seeks loan waiver of excess cash flow payment

By Sara Rosenberg

New York, Nov. 10 – American Tire Distributors Inc. is approaching lenders to approve a waiver of the upcoming fiscal year 2017 excess cash flow payment, according to a market source.

Jefferies LLC is the lead bank on the waiver.

Lenders are being offered a 10 bps consent fee, the source said.

No changes are being offered to the term loan’s pricing or other terms.

Responses are due at 1 p.m. ET on Wednesday, the source added.

American Tire is a Huntersville, N.C.-based replacement tire distributor.

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