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Penfund Completes $225MM Follow-on Investment in Mister Car Wash
Friday, May 24, 2019

Lenders/Participants Penfund [Lender]
Structure Second Lien Credit Facility
Amount $225.000 Million
Borrower(s) Mister Car Wash
Description Completion of a follow-on investment in Mister Car Wash as part of a small club of lenders providing a new $225 million second lien credit facility. The proceeds of this facility, together with the proceeds of a new US$800 million first lien term loan, have been used to refinance MCW’s existing debt and to pay a distribution to shareholders. Senior lenders also provided a new US$75 million revolving credit facility and US$40 million delayed draw term loan. Additional transaction details not disclosed.
Industry Automotive
Location AZ

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