Goldcar Spain readies launch of €275 million term loan B for Dec. 1

By Sara Rosenberg

New York, Nov. 24 – Goldcar Spain SL (Nuevo Trabajo Creativo SL) is scheduled to hold a bank meeting in London on Dec. 1 to launch a €275 million 5½-year term loan B, according to a market source.

Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are the bookrunners on the deal, with Deutsche Bank as the administrative agent.

Financial covenants include net leverage and interest coverage ratios.

Proceeds will be used to help fund the acquisition of an 80% interest in Goldcar by Investindustrial V LP. The remaining 20% of the shares will be held by the founders and sellers.

Commitments are due on Dec. 11, the source added.

Goldcar is a Spain-based leisure car rental company.

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