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SecuritizationCLOs-CDOs

Pendragon arranges £530m financing extension

Pendragon, the UK car dealer, has secured £530m of new financing in a deal that extends its bank facilities and loan notes by another three years and includes renegotiated covenants. The company announced the transaction in its preliminary results for 2008 last week, when it disclosed a loss before tax of £200.6m.

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