Capital Automotive to launch $2 billion credit facility on Monday

By Sara Rosenberg

New York, March 3 – Capital Automotive LP is set to hold a lender call at 11 a.m. ET on Monday to launch a $2,005,000,000 senior secured credit facility, according to a market source.

Barclays is the left bookrunner on the deal.

The facility consists of a $200 million revolver, a $1,115,000,000 first-lien term loan and a $690 million second-lien term loan, the source said.

Proceeds will be used to refinance existing bank debt, fund a cash dividend to Brookfield Asset Management and its institutional partners and pay related fees and expenses.

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

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