Monro gets $600 million amended and extended revolver

By Sara Rosenberg

New York, Nov. 15 – Monro Inc. completed on Nov. 10 a $600 million amended and extended revolving credit facility due 2027, according to a news release.

Citizens Bank acted as the lead left arranger, bookrunner and administrative agent in the nine-bank group.

Pricing on the revolver is SOFR plus 100 basis points.

The revolver replaces an existing $600 million revolver due 2024 that was priced with a Libor rate.

Proceeds will be used to refinance debt, to fund acquisitions and for general corporate purposes.

Monro is a Rochester, N.Y.-based provider of automotive undercar repair and tire services.

© 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.