MCF Company Newsletter – August 6, 2020
Big News 7-Eleven—$21 Billion Acquisition
Seven & i Holdings Co., the world’s largest convenience store franchiser and parent company of Irving-based 7-Eleven, agreed Sunday to buy Marathon Petroleum Corp.’s Speedway gas-stations for $21 billion, forging ahead with a deal-fueled expansion in the U.S.
Tokyo-based Seven & i said in a statement it expects the all-cash transaction to close in the first quarter of next year.
7-Eleven operates 11,800 stores in the U.S. and Canada. Speedway stores will give 7-Eleven a bigger footprint in the Midwest and East Coast and a presence in 27 of the top 50 most populated metro areas in the U.S., 7-Eleven said in a statement. 7-Eleven’s total merchandise sales were almost $18 billion last year and Speedway’s merchandise sales were more than $6 billion. 7-Eleven’s gasoline sales last year were more than $18 billion and Speedway’s were $20.5 billion.
7-Eleven Acquisition, Refinance, Cash-Out and Take-Out Financing Terms – MCF
|Max LTV:||50% to 65%. MIN DCR = 1.25 X|
|Amortization:||25 to 30 Years|
|Fixed Rate For Loans:||5, 7 or 10 Fixed = 3.00% to 4.375%|
|Reports:||Appraisal, Environmental, ALTA Land and Building Survey.|
|Legal:||Subject to review of transaction.|
|Other Misc Costs:||Yes per processing and to close transaction if approved.|
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All rates and terms are subject to change without notice. Certain other loan terms and costs will apply to all loans. All info in this newsletter / blog post has not been verified and Marabella Commercial Finance, Inc. does not guarantee the information expressed or implied. Please verify all information prior to any loan decisions.