Bapcor Secures Bank Support Amidst Losses and Takeover Talks
Bapcor Secures Bank Support Amidst Losses and Takeover Talks
Embattled car parts retailer and distributor, Bapcor (ASX:BAP), has won significant support from its bankers as it prepares to announce a significant loss for the year ending June 30 and decides whether to fight a takeover approach from an American private equity firm.
備受困擾的汽車零部件零售商和分銷商Bapcor(ASX:BAP)得到銀行家的大力支持，因爲它準備公佈截至6月30日的重大虧損，並決定是否應對一家美國私募股權公司的收購提案進行爭奪。
The company revealed on June 11 that Bain and Co., the US group, had offered a non-binding $5.40 per share, with a slew of conditions attached (typical for an indicative offer), including the crucial one in this case: due diligence.
6月11日，該公司披露美國巴恩斯諮詢集團(Bain and Co.)提出了一項非約束性收購提案，每股5.40美元，附帶一系列條件(典型的指示要約)，包括這一案件中至關重要的條件:實質性的盡職調查。
This news caused the shares to jump from $4.36 on June 7 (before the long weekend) to $5 last Friday.
此消息導致股價從6月7日(週末前)的4.36美元躍升至上週五的5美元。
Bapcor stated that its board will consider Bain's approach.
Bapcor表示，將考慮巴恩斯的提議。
On Monday, it announced the refinancing of $200 million in debt due to mature in July 2025. The deal increases this amount to $300 million and splits it into two parts, now maturing in July 2028 and July 2029.
週一，它宣佈再融資2億美元的債務，該債務將於2025年7月到期。該交易將此金額增加到3億美元，並將其分爲兩部分，現在分別於2028年7月和2029年7月到期。
Bapcor reported strong lender interest in the refinancing, "reflective of Bapcor's attractive market and business profile, which enabled an increase in total available limits and the addition of a new financier to the syndicate."
Bapcor報告稱，再融資引起了強烈的貸方興趣，"反映了Bapcor的有吸引力的市場和業務概況，這使得總可用額度增加並向聯合財團添加了一家新的融資人。"
"The refinancing terms and pricing are solid, combined with an extended maturity profile," the company added.
"再融資條款和定價穩健，加上更長的到期時間，"該公司補充道。
"With the completion of this debt refinance, Bapcor now has access to a total $720 million debt facility, including ANZ, Westpac, NAB, Citi, SMBC, and MetLife."
"隨着這筆債務再融資的完成，Bapcor現在可以獲得總值7.2億美元的債務配額，其中包括澳新銀行、西太平洋銀行、澳大利亞國民銀行、花旗銀行、三菱日聯海外銀行和大都會人壽。"
"This transaction further strengthens Bapcor's financial position and provides additional funds for general corporate purposes," the company said.
"這項交易進一步加強了Bapcor的財務狀況，爲一般企業用途提供了額外的資金，"該公司表示。
George Saoud, Bapcor's acting chief financial officer (named just last week), expressed satisfaction with the refinancing outcome in Monday's statement.
Bapcor的代理首席財務官(上週剛剛任命)George Saoud在週一的聲明中對再融資的結果表示滿意。
"We appreciate the continued support of our banking partners, and with their backing, Bapcor has bolstered its financial foundation. The new debt facility offers competitive terms and pricing and positions us well for future growth," he added.
"我們感謝我們銀行合作伙伴的持續支持，憑藉他們的支持，Bapcor鞏固了其財務基礎。新的債務配額提供了具有競爭力的條款和價格，並將我們定位於未來的增長。"他補充道。
While the new financing deal alleviates immediate pressure, Bapcor still faces the challenge of restructuring to escape the current slow sales and high-cost trap, particularly in its retail business centered on the Autobarn chain. This will be a daunting task.
儘管新的融資協議緩解了即時壓力，Bapcor仍然面臨着重組的挑戰，以擺脫當前的低銷售和高成本陷阱，特別是在其以Autobarn連鎖店爲中心的零售業務。這將是一項艱鉅的任務。
