Dealer Tire raising $150M in new capital via senior note offering
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CLEVELAND Dealer Tire L.L.C. is planning raise $150 million in new capital via a senior notes offering.
The company, which specializes in supplying tires to automotive dealerships, said it will use the proceeds of the offering for working capital and other general corporate purposes.
The new offering is an extension of a $350 million senior notes offer, issued in
February 2020 and due in 2028, that Dealer Tire said would be used to help finance its acquisition of Dent Wizard International Corp., a national provider of automotive reconditioning services and vehicle protection products.