secwatch.observer — SEC 8-K summary
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Issuer:     PENSKE AUTOMOTIVE GROUP, INC. (PAG)
CIK:        0001019849
Form:       8-K
Filed at:   2023-01-06T23:59:59+00:00
Accession:  0001019849-23-000004
Event type: debt
Sentiment:  neutral
Materiality: 0.25
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1019849/000101984923000004/0001019849-23-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1019849/000101984923000004/pag-20230101.htm
  HTML page:      https://secwatch.observer/filing/0001019849-23-000004

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