AutoNation closes $700M inaugural ABS at 4.90% weighted-average rate, upsized by $200M

AUTONATION, INC.

Issued $700M asset-backed notes via AutoNation Finance Trust 2025-1, secured by $714.3M auto loan contracts.
Weighted-average interest rate of 4.90%; maturity dates from June 2026 to September 2032.
Net proceeds of ~$696.4M to reduce existing indebtedness and for general corporate purposes.
CEO states rate is lower than cost of debt replaced; 98% advance rate achieved.
AutoNation guarantees servicer obligations but not the notes; CIG Financial, LLC will service loans.

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