American Tire wraps amendment for excess cash flow payment waiver

By Sara Rosenberg

New York, Nov. 16 – American Tire Distributors Inc. completed on Wednesday the amendment that waives the upcoming fiscal year 2017 excess cash flow payment, according to a market source.

Consenting lenders received a 10 basis points fee, and the company is refreshing the 101 soft call for six months on its existing first-lien term loan.

The call protection was added to the amendment during the negotiation process.

Jefferies LLC is the lead bank on the waiver.

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

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