JPMorgan Leads Tire Rack Financing

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JPMorgan Leads Tire Rack Financing

JPMorgan is leading a $315 million financing for The Tire Rack, America's largest independent tire tester and direct retail and wholesale source for tires, wheels and accessories.

JPMorgan is leading a $315 million financing for The Tire Rack, America's largest independent tire tester and direct retail and wholesale source for tires, wheels and accessories. The facility consists of a six-year, $50 million revolver priced at LIBOR plus 2 1/2% and a seven-year, $265 million term loan "B" priced at LIBOR plus 2 3/4%. Located in South Bend, Ind., the family-owned company has grown from a single-point retail store in Indianapolis to almost 1.2 million square feet of warehouse space across the U.S. The company declined comment.

 

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