Bridgepoint has completed a refinancing of A-Katsastus, the Finnish vehicle distributor. The debt facility is structured as a EUR 75m term loan A; EUR 75m term loan B; EUR 75m term loan C and EUR 10m revolving credit facility. On top of this, there is a EUR 20m second lien tranche and a EUR 35m mezzanine facility. Nordea and SEB arranged the transaction. Nordea acted as the facility and security agent. The recapitalisation syndication has been targeted at existing lenders to the company, which include RBS and Sampo Bank. The new debt facility of EUR 290m gives the company the ability to make further investments to support its growth strategy, and includes a notable reduction to its average cost of debt.
Vehicle is expected to hold a final close in March 2020, Unquote understands
Merger of German and Dutch peers will result in a client base of 3,500 companies
Fund's predecessor, BlackFin Financial Services Fund II, closed on €400m in 2016
GP will support the Munich-based software company's growth by broadening its product offering