Lauritz.com lines up new senior loan in connection with rollout

By Sarah Lizee

Olympia, Wash., Jan. 6 – Lauritz.com Group A/S said that a new financing arrangement is underway in connection with its negotiations to roll out Lauritz.com in Asia.

Lauritz said it has been negotiating with Tianrong Investment Group and Ali Auction about establishing a joint venture for entering the Asian auction market. The joint venture is set out to be the Asian arm of Lauritz.com.

The company said the negotiations have now moved into an advanced stage, and a letter of intent has been signed.

The letter of intent regarding the planned joint venture includes plans for a new financing for Lauritz.com Group. The financing is going to be partly equity and partly a senior loan. The proceeds will primarily be used to repay the current bond debt.

Lauritz.com operates online auction services through its trading platform based in Soborg, Denmark.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.