LONDON, October 26, 2012 /PRNewswire/ --
The Autobar Group has announced the successful refinancing of its existing debt facilities. The Refinancing includes a €100m acquisition facility to help support Autobar's proven track record of growth through acquisition and all facilities have a seven year maturity.
The Refinancing was led by global coordinators BNP Paribas and HSBC, and bookrunners ING and Nomura. Autobar's new debt facilities received significant support from existing lenders together with commitments from new investors and the Refinancing was materially oversubscribed.
The Autobar Group is one of Europe's leading vending businesses, with around 100,000 customers in 11 countries in Europe and sales of €569 million in the year to March 2010. Since its buyout in 2010 Autobar has performed very strongly, increasing EBITDA from €130 million to €159 million in the year ended March 2012.
Chief Executive Officer Alain Beyens said: "The Refinancing demonstrates the strong support Autobar has amongst its lenders and provides a great platform for future growth both in terms of further acquisitions and more importantly, investment in new concepts and ideas."
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SOURCE Autobar Group