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News Breaks | | | | February 28, 2013 | | 09:21 EDT |  | KAR | KAR Auction announces intention to amend credit facility to lower pricing
KAR Auction announced its intention to seek an amendment to its credit agreement. Subject to market conditions, the Company is seeking an amendment that would, among other things, result in lower interest costs by refinancing all currently outstanding term loans with a new tranche of term loans. The company is also seeking to raise up to $150M of incremental term loan commitments, the proceeds of which, together with a portion of the new tranche of term loans, will be used to redeem the company's outstanding $150M aggregate principal amount of floating rate senior notes due May 1, 2014. The company anticipates that the credit agreement amendment will be completed in March 2013. However, there can be no assurance that the company will be able to complete the amendment, which is subject to market and other customary conditions. | |
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| May 16, 2013 | | 07:26 EDT |  | KAR | Barrington to host a conference
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