NYSE-listed alternatives giant Ares Management is back in the fast lane as Quadrant Private Equity green-lights a new debt refinancing for its automotive aftercare products distributor MotorOne.
Street Talk understands the Sydney buyout firm – which owns a majority stake in MotorOne – is trading its bank debt for a more expensive $350 million-plus uni-tranche loan. This is a structure that blends senior and mezzanine risk into a single loan and will see a new group of lenders ride shotgun.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
