Global Auto amends term loan agreement to lift size to $666 million

By Sara Rosenberg

New York, July 27 – Global Auto Holdings Ltd. amended and restated its interim term loan agreement to increase the size to $666,165,192 from $615 million, according to a news release.

The term loan commitment supports the company’s acquisition of Lookers plc for 130 pence in cash per share, or about £504.2 million, which was increased from an original acquisition offer of 120 pence in cash per share, or about £465.4 million.

BMO Capital Markets, Desjardins Capital Markets and National Bank Financial Markets are the arrangers on the deal, with BMO the agent.

Global Auto is a related party to Alpha Auto Group Holdings LP, a Canada-based operator and consolidator of auto retail dealerships. Lookers is a U.K.-based car dealership chain.

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