Belron Confirms $250 Million Financing Deal with U.S. Private Placement Lenders
February 8, 2011
Belron SA sales and marketing director Jeff Boekstein today confirmed recent reports that the company has entered into a $250 million financing deal.
“Belron is pleased to confirm that it has agreed [to] a $250 million (U.S. dollars) financing with several U.S. private placement lenders,” says Boekstein. “This financing will form part of the company's on-going financing arrangements.”
The private placement was issued through RBS Securities, which is a part of the Royal Bank for Scotland.
Belron SA owns Safelite Auto Glass and several other auto glass chains throughout the world, including United Kingdom-based AutoGlass, CarGlass in Germany, O’Brien in Australia, and Smith and Smith in New Zealand.
The transaction reportedly has three portions—a $50 million seven-year note with an annual interest rate of 4.51 percent, a $100 million 10-year note with an annual interest rate of 5.13 percent and a $100 million 12-year note with an interest rate of 5.25 percent.
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