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Bedell Cristin advises on WeBuyAnyCar owner financing

Bedell Cristin advises on WeBuyAnyCar owner financing

Thursday 05 August 2021

Bedell Cristin advises on WeBuyAnyCar owner financing

Thursday 05 August 2021

Jersey law firm Bedell Cristin has advised on financing arrangements for Constellation Automotive, which operates through its brands British Car Auctions and WeBuyAnyCar among others.

Led by Partner Alasdair Hunter (pictured top), the firm provided Jersey legal advice to the initial purchasers and the mandated lead arrangers in connection with Constellation Automotive’s underwritten financing arrangements.

It included its £695m offering of 4.9% senior secured notes due 2027, its approximately £750m (equivalent) senior secured term facility, its £250m revolving credit facility and its £325m second line facility.

The financings closed on 28 July 2021. The net proceeds of the financings were used, among other things, to refinance existing debt and make a distribution to Constellation Automotive’s direct parent company.

The Bedell Cristin team also included Senior Associate Malcolm Ellis, Associate Louise Ridgway, and Legal Assistant Donna Watts.

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