Arnold & Porter Kaye Scholer Represents APCOA in Syndicated Debt Facilities Dividend Recapitalisation and Repricing
The London Syndicated and Leverage Finance team represented APCOA Parking Group, the leading full-service parking management company in Europe, in the successful completion and syndication of an additional €30 million of term loan B debt facilities. The additional term loan B debt facilities are being used to fund a €52 million dividend to shareholders. This follows the successful completion of the €435 million refinancing of the APCOA group facilities in March of this year which the London banking team led by Colin Tan also worked on.
The new and existing facilities continue to be assigned a B1 corporate family rating by Moody's Investor Services and rated B+ by Standard & Poor's.
Barclays Bank PLC acted as sole physical bookrunner and Barclays Bank PLC, J.P. Morgan Securities 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 is the leading full-service parking management company in Europe. The company 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, has an extensive portfolio of clients, 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.