Group 1 Automotive Closes $1,250.0 Million Offering of Senior Notes
Group 1 Automotive closed a $1.25 billion private placement of senior unsecured notes: $625.0 million of 6.250% notes due 2032 and $625.0 million of 6.625% notes due 2035. Proceeds, plus cash on hand, will fund the previously announced acquisition of dealership assets and real estate from Hennessy Automobile Companies; pending that closing, proceeds will temporarily pay down revolver borrowings.
Key figures
- Deal Value Usd
- 1250000000
- Dealerships
- 249
- Tranche 2032
- $625.0 million 6.250% senior unsecured notes due 2032
- Tranche 2035
- $625.0 million 6.625% senior unsecured notes due 2035
AI analysis
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