AA owner Acromas closing in on refinancing deal Acromas, which is owned by private equity groups CVC, Charterhouse and Permira, is looking to replace more than £4bn of bank debt that is due to start maturing in 2015. Acromas plans to refinance by issuing a long-term bond, which would take advantage of a debt market where investors, particularly in the US, are snapping up corporate debt at low interest rates. CVC, Charterhouse and Permira, which bought breakdown recovery service the AA and over-50s group Saga in 2007 for £6.15bn, were initially exploring a £9bn float of Acromas. However, it is understood that a break-up has now become the most likely option, with the AA sold off before a potential float of Saga. In total, Acromas has £4.3bn of bank debt which is racking up interest of more than £200m a year. The company, 22pc owned by employees, also has a £2.9bn "shareholder loan note" at 16pc interest a year, equating to £420m.