LKQ increases credit facility to $3.2 billion, extends to January 2021

By Tali Rackner

Norfolk, Va., Feb. 1 – LKQ Corp. amended its credit facility to increase availability to $3.2 billion from $2.3 billion, according to a press release.

The amended facility includes a $2.45 billion multi-currency revolver and a term loan facility of roughly $500 million and €230 million.

The amended facility extends the maturity date to Jan. 29, 2021 from May 3, 2019 and increases the flexibility of certain restrictive covenants, including provisions relating to additional debt.

Wells Fargo Securities, LLC served as left lead arranger and bookrunner on the credit facility. Merrill Lynch, Pierce, Fenner & Smith Inc., MUFG and Citizens Bank, NA acted as joint lead arrangers and bookrunners. Wells Fargo Bank, NA will serve as the administrative agent, Bank of America, NA, as syndication agent and MUFG and Citizens Bank as documentation agents.

Based in Chicago, LKQ provides alternative and specialty parts to repair and accessorize automobiles and other vehicles.

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