Bapcor Limited
(ASX:BAP) has established a new $500 million debt package.
Australasia’s leading provider of automotive aftermarket parts says the proceeds will be used to repay its existing debt facilities, which includes the bridging loan for the Hellaby Holding acquisition.
The debt facility (in 3 and 5 year tranches) has been provided by Bapcor’s pre-existing lenders, ANZ
(ASX:ANZ) and Westpac
(ASX:WBC), together with the Bank of Tokyo-Mitsubishi UFJ (BTMU) and HSBC.
Bapcor says the new, flexible debt package on improved terms also allows the company to focus on revenue and growth initiatives.
Shares in Bapcor Limited
(ASX:BAP) last traded 1.4 per cent lower yesterday to $5.41.