Meinauto Group AG Announces the Refinancing of Its Existing €140 Million Debt Facility
October 06, 2021 at 02:00 am EDT
MeinAuto Group AG announced the refinancing of its existing €140 million debt facility with the net proceeds of a new 7-year, €175 million Term Loan B maturing in 2028. The new facility will provide the Company with incremental financial flexibility and simultaneously reduce the company's annual interest payments by approximately €2.5 million. The proceeds of the new Term Loan were applied to repay the outstanding debt facility and pay related transaction fees and expenses, with the remainder to be used to finance the continued expansion of MeinAuto Group's profitable business.