England’s IMO Car Wash to sell €240 million of senior secured notes

By Paul A. Harris

Portland, Ore., June 30 – IMO Car Wash is offering €240 million of five-year senior secured notes, according to a market source.

The deal comes with initial guidance in the high 6% range.

JPMorgan is the bookrunner. Lloyds TSB is the co-manager.

The notes come with two years of call protection.

Proceeds will be used to refinance debt as well as to help fund a leveraged buyout of the High Wycombe, England-based car wash company by TDR Capital.

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