APCOA Successfully Refinances €435 Million of Debt Facilities
Arnold & Porter Kaye Scholer attorneys in the London office represented APCOA Parking Group, the leading full-service parking management company in Europe, in the successful completion of the refinancing of its existing debt facilities. The refinancing, comprising a total of €435 million of facilities, including an upsized €350 million term loan B facility, was successfully syndicated. The facilities were assigned a B1 corporate family rating by Moody's Investor Services and rated B+ by Standard & Poor's.
"Our diversified and resilient business model, as well as the long-term nature of our contracts and client relationships translate into a favourable credit profile," APCOA CFO Steffen Baetjer, said. "I am glad that we were able to successfully execute this refinancing and secure a long-term financing package on attractive terms."
Barclays Bank PLC, Deutsche Bank AG, London Branch and The Royal Bank of Scotland plc (trading as NatWest Markets) acted as mandated lead arrangers and joint bookrunners on behalf of APCOA.
APCOA has more than 45 years of experience in 13 European countries and an extensive portfolio of clients. More than 30 European airports have entrusted APCOA with the management of their parking facilities.
Headquartered in Stuttgart, Germany, APCOA operates in 13 European countries, manages more than 1.4 million individual parking spaces, and delivers future-oriented and innovative parking services to customers and property owners across more than 9,000 locations.