---
schema_version: "secwatch.filing_event.v1"
accession: "0001019849-23-000004"
form_type: "8-K"
ticker: "PAG"
cik: "0001019849"
company_name: "PENSKE AUTOMOTIVE GROUP, INC."
filed_at: "2023-01-06T23:59:59+00:00"
generated_at: "2026-06-20T18:32:29.249104+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# Penske Automotive reduces non-use fee on $800M credit facility from 0.30% to 0.20%

## Summary
- Ninth Amendment to US credit agreement lowers non-use fee on available but unused commitments from 0.30% to 0.20% per annum.
- The $800M revolving credit facility also includes $50M letters of credit, matures September 30, 2025.
- Interest rate is LIBOR+1.50% (plus 1.50% incremental for uncollateralized borrowings beyond borrowing base).
- Lenders include affiliates of Mercedes-Benz and Toyota; the company has ongoing vehicle purchasing and floor-plan relationships.

## SEC filing metadata
- accession: 0001019849-23-000004
- form_type: 8-K
- ticker: PAG
- cik: 0001019849
- company_name: PENSKE AUTOMOTIVE GROUP, INC.
- filed_at: 2023-01-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1019849/000101984923000004/0001019849-23-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1019849/000101984923000004/pag-20230101.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001019849-23-000004
- JSON: https://secwatch.observer/filing/0001019849-23-000004.json
- Plain text: https://secwatch.observer/filing/0001019849-23-000004.txt

## Key facts
- Material Agreements
  PENSKE AUTOMOTIVE GROUP, INC. amended Ninth Amendment with Mercedes-Benz Financial Services USA LLC and Toyota Motor Credit Corporation (effective 2023-01-01).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Mercedes-Benz Financial Services USA LLC and Toyota Motor Credit Corporation
  - Effective: 2023-01-01
  source text: On January 1, 2023, we entered into the Ninth Amendment (the “Amendment”) to our U.S. credit agreement with Mercedes-Benz Financial Services USA LLC and Toyota Motor Credit Corporation
  evidence_url: https://www.sec.gov/Archives/edgar/data/1019849/000101984923000004/0001019849-23-000004-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.