RLPC-German auto parts chain ATU seeks covenant waiver


LONDON, Aug 29 (Reuters) - German auto spare parts chain Auto-Teile-Unger (ATU) has asked its banks to approve a waiver to its buyout loan to avoid a possible covenant breach, banking sources said on Wednesday. ATU's 2004 financing backed the company's buyout by Kohlberg Kravis Roberts & Co [KKR.UL]. The 1.025 billion euro credit was arranged by mandated lead arrangers Mizuho, Morgan Stanley and UniCredit (HVB). An investor call will be held in the next two weeks for the company to ...

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