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GERMANY - Dresdner Kleinwort Wasserstein to refinance APCOA

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Dresdner Kleinwort Wasserstein has been mandated by Investcorp to lead the refinancing of German car parks operator APCOA. No equity will be taken out in the course of the refinancing.

The refinancing will aim to replace the existing vendor loan with a new Term Loan B amounting to EUR 45m and paying a margin of 250bps. Additionally margins on tranches B and C will be reduced by 25 bps each to 230 and 300 bps respectively and the margin ratchet will be adjusted.
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