Kar Auction Services (KAR) Reports Q1 EPS of $0.62
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KAR Auction Services Seeks to Refinance and Reprice Existing Debt
May 9, 2017 4:16 PM EDTCARMEL, Ind., May 09, 2017 (GLOBE NEWSWIRE) -- KAR Auction Services, Inc. (NYSE: KAR) (the Company) announced today that it is seeking to refinance and reprice its existing term loans under its senior secured credit facilities. The Company intends to issue senior notes to refinance a portion of the term loans and reprice the remainder of the term loans that are not refinanced.  In addition, the Company is seeking to increase its existing revolving commitments.
Net proceeds from the proposed refinancing transactions will be used to repay existing term loans.
... MoreKAR Auction Services, Inc. Reports First Quarter 2017 Financial Results
May 9, 2017 4:15 PM EDTCARMEL, Ind., May 09, 2017 (GLOBE NEWSWIRE) -- KAR Auction Services, Inc. (NYSE: KAR), today reported its first quarter financial results for the period ended March 31, 2017. For the first quarter of 2017, the company reported revenue of $866.6 million as compared with revenue of $758.3 million for the first quarter of 2016, an increase of 14%. Net income for the first quarter of 2017 increased 14% to $69.2 million, or $0.50 per diluted share, as compared with net income of $60.7 million, or $0.44 per diluted share, in the first quarter of 2016. Adjusted EBITDA for the quarter ended March 31, 2017 increased 11% to $210.6 million, as compared with... More
