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Europcar announces €125 million tap of 5¾% senior notes due 2022 to fund acquisitions
By Paul A. Harris
Portland, Ore., June 1 – Europcar Groupe SA announced in a Wednesday press release that it intends to do a €125 million add-on to its 5¾% senior notes June 15, 2022.
Proceeds will be used primarily to fund the Paris-based car rental company’s acquisition program focused on bolt-ons, franchisees and new mobility services, as well as for general corporate purposes.
The original €475 million issue priced at 99.289 to yield 5 7/8% in May 2015.
The add-on notes will become fungible with the original notes, the release stated.
Europcar is the car rental arm of Volkswagen.
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