Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Keystone Automotive Seeks Dividend Loan; Atlas Cuts Debt Cost

Keystone Automotive Operations Inc. is asking lenders for $335 million of loans to help fund a shareholder dividend, while Atlas Energy LP cut debt costs amid record demand for junk loans.

Keystone, owned by Platinum Equity LLC, is seeking a $235 million first-lien term loan due in six years and a $100 million second-lien portion maturing in seven years, according to a person with knowledge of the deal. UBS AG, Goldman Sachs Group Inc. and Bank of America Corp. are arranging the financing, which will also help the auto-parts maker refinance debt, said the person, who asked not to be identified because the transaction is private.

Companies are tapping the bank debt market as investors added a record $1.8 billion this week to U.S. loan funds, according to Bank of America.

Atlas lowered the cost of a $240 million acquisition loan it’s seeking to 5.5 percentage points more than the London interbank offered rate after originally proposing 6 percentage points to 6.5 percentage points more than the lending benchmark, said another person with knowledge of the matter. Libor will have a 1 percent floor.

The Pittsburgh-based company said June 10 that its exploration and production unit was buying natural gas reserves in New Mexico and Alabama from EP Energy LLC for $733 million, as well as reserves in Oklahoma for $67 million.

Deutsche Bank AG and Wells Fargo & Co. are arranging the financing for the purchases.

Loan prices rose for a ninth straight day to 98.33 cents on the dollar today, according to the Standard & Poor’s/LSTA U.S. Leveraged Loan 100 index.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.