KAR Auction Services plans credit facility refinancing

By Sara Rosenberg

New York, Feb. 18 - KAR Auction Services Inc. is looking to refinance it existing credit facility, according to a news release.

The refinancing would extend the maturity of the revolver and a portion of the term loan, lower pricing and provide greater flexibility for making capital expenditures and for making restricted payments.

KAR is a Carmel, Ind.-based provider of vehicle auction services and a provider of floorplan financing to independent and franchise used vehicle dealers.

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