Belron has Allocated Its New Term Loans of $1.5 Billion USD

Belron, parent of Safelite AutoGlass, announced it has allocated its Term Loan B (TLB) of $1.5 billion USD (1.3 billion EUR) equivalent and refinanced its revolving credit with a new facility of $324.6 million USD (280 million EUR) (the “financing”).

The proceeds of the new TLB will mainly be used to refinance the existing US Private Placement (USPP) instruments issued by the company, reimburse the existing shareholder loans, pay an extraordinary dividend to the current shareholders of Belron and cover fees and transaction costs related to the refinancing, according to the company’s press release. This process is fully aligned with D’Ieteren’s intention to find a suitable minority partner for Belron, the company adds.

The financing is expected to close on November 7.

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