KAR Auction plans to pay down some term loans, reprice remainder

By Sara Rosenberg

New York, May 9 – KAR Auction Services Inc. is looking to refinance and reprice its existing senior secured term loans, according to a news release.

The company said that it plans to issue senior notes to refinance a portion of the term loans and reprice the remaining balance.

Additionally, the company intends to increase its existing revolving credit facility commitments.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.