Capital Automotive to launch $1.7 billion credit facility on Wednesday

By Sara Rosenberg

New York, March 19 - Capital Automotive LP will hold a lender call at 11 a.m. ET on Wednesday to launch a $1.7 billion senior secured credit facility, according to a market source.

Barclays is the bookrunner on the deal.

The facility consists of a $200 million revolver and a $1.5 billion term loan B, the source said.

Proceeds will be used to refinance an existing credit facility.

Capital Automotive is a McLean, Va.-based provider of sale-leaseback capital to the automotive retail industry.

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