BCA prices new debt package

By Olivier Holmey
03 Jul 2013

British Car Auctions, the UK used car retailer, has set the margins and fees on its latest loan package after a bank meeting with lenders on Tuesday.

The new debt, priced between 425bp and 475bp over Libor, will back BCA's acquisition of Manchester-based car valuation and sales website webuyanycar.com. It will also partially refinance the company’s outstanding credit facilities.

The structure will comprise £345m of senior facilities, £180m of which will be new money. It will ...

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