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BREAKING: Constellation Automotive Agrees to Comprehensive Refinancing Deal, Equity Injection With Existing Shareholders

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U.K. digital used vehicle marketplace Constellation Automotive announced today that it has agreed to a comprehensive refinancing deal and equity injection with existing shareholders. The refinancing of the group’s senior debt facilities is made up of a £1.3 billion unitranche facility arranged by KKR to replace existing senior debt.

A £240 million super senior revolving credit facility has also been secured to increase liquidity and financial flexibility. 

The group has also secured a recapitalization plan from shareholders to allow the business to achieve long-term goals. Controlling shareholder TDR Capital has entered into a structured investment and preference share exchange agreement with AlbaCore Capital Group as part of the agreement. 

 

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