AutoTrader.com Secures Funds of $525 Million
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ATLANTA — In a round of lending announced Tuesday, AutoTrader.com can tap into a new set of funds thanks to a financing arrangement it made with Goldman Sachs Lending Partners LLC and Wells Fargo Bank, National Association that provides the company with senior secured revolving credit and term loan facilities in an aggregate principal amount of $525 million.
Serving as joint lead arrangers and joint book-runners will be Goldman Sachs Lending Partners LLC and Wells Fargo Securities, LLC.
AutoTrader.com plans to use these facilities to fund the redemption of certain share of its outstanding capital stock and for working capital, while also using these monies for other general corporate purposes.