KAR Auction Services,Inc. (NYSE:KAR) Files An 8-K Other EventsItem 8.01 Other Events.
On May 22, 2017, KAR Auction Services, Inc. announced that it plans to offer, subject to market conditions, approximately $800 million aggregate principal amount of senior notes due 2025.
A press release announcing the launch of the offering is attached as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press release dated May 22, 2017 — “KAR Auction Services Announces Proposed Notes Offering”
About KAR Auction Services, Inc. (NYSE:KAR)
KAR Auction Services, Inc. is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc. (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc. (IAA) and Automotive Finance Corporation (AFC). The ADESA segment is a provider of whole car auctions and related services to the vehicle remarketing industry in North America. It serves its customer base through online auctions and auction facilities that are developed and located to draw professional sellers and buyers together, and allow the buyers to inspect and compare vehicles remotely or in person. As a provider of salvage vehicle auctions and related services, it operates as IAA in the United States and Impact Auto Auctions in Canada, and serves customer base through salvage auction locations throughout North America. The AFC segment provides floorplan financing to independent used vehicle dealers. KAR Auction Services, Inc. (NYSE:KAR) Recent Trading Information
KAR Auction Services, Inc. (NYSE:KAR) closed its last trading session 00.00 at 42.93 with 922,127 shares trading hands.