Wells in AutoTrader Financing

Published November 17, 2010, 6:55 p.m. EST

Updated November 17, 2010, 6:02 p.m. EST

1 Min Read

Wells Fargo & Co. has arranged a $600 million term loan B for AutoTrader, according to sources.

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It has also arranged a $200 million term loan A and a $150 million revolver. Atlanta-based AutoTrader.com plans to use the proceeds to help fund its acquisition of Kelley Blue Book.

AutoTrader has been a busy online auto seller. Several months ago, Goldman Sachs Group and Wells Fargo syndicated a $100 million add-on term loan backing Autotrader.com's acquisition of vAuto.

It was an add-on to a $300 million term loan B that Goldman and Wells syndicated over the summer. That loan helped backed AutoTrader's spinoff from Cox. The funding also included a $125 million term loan A and $100 million revolver.

Richard Kellerhals

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