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Autodis shops €510 million six-year fixed-, floating-rate notes
By Paul Deckelman
New York, Nov. 1 – Autodis SA plans to sell €510 million of six-year floating-rate and fixed-rate senior secured notes, European high-yield sources said Tuesday.
The notes will be sold under Rule 144A and Regulation S.
The Paris-based company, a distributor of aftermarket spare parts for light vehicles and trucks, plans to use the expected new-deal proceeds from the offering to fund the redemption of all of the €270 million of the issuer’s existing 6½% senior secured notes due 2019; to fund the redemption of the €140 million of 9% / 9¾% senior HoldCo pay-if-you-can notes due 2020 issued by Dakar Finance SA, the issuer’s indirect parent company; to repay in full the €80 million outstanding under its existing bridge facility; and to pay certain fees and expenses in connection with the foregoing.
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