---
schema_version: "secwatch.filing_event.v1"
accession: "0001019849-23-000014"
form_type: "8-K"
ticker: "PAG"
cik: "0001019849"
company_name: "PENSKE AUTOMOTIVE GROUP, INC."
filed_at: "2023-02-03T23:59:59+00:00"
generated_at: "2026-06-20T00:46:57.250175+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Penske Automotive Group expands UK revolving credit facility to £200M, extends term to Jan 2027

## Summary
- UK credit facility increased from £150M to £200M; term extended to Jan 2027 with option to Jan 2028.
- Interest rates set at SONIA plus 1.10% to 2.10% on revolving loans.
- £100M accordion feature allows UK subs to request additional capacity, subject to lender approval.
- Covenants include EBITAR/interest ratio, max capital expenditures, and debt/EBITDA ratio.
- BMW Financial, a lender, also provides vehicle purchases, mortgage, floor-plan, and consumer financing to Penske.

## SEC filing metadata
- accession: 0001019849-23-000014
- form_type: 8-K
- ticker: PAG
- cik: 0001019849
- company_name: PENSKE AUTOMOTIVE GROUP, INC.
- filed_at: 2023-02-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1019849/000101984923000014/0001019849-23-000014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1019849/000101984923000014/pag-20230131.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001019849-23-000014
- JSON: https://secwatch.observer/filing/0001019849-23-000014.json
- Plain text: https://secwatch.observer/filing/0001019849-23-000014.txt

## Key facts
- Material Agreements
  PENSKE AUTOMOTIVE GROUP, INC. amended U.K. credit agreement with National Westminster Bank Plc and BMW Financial Services (GB) Limited valued at £200.0 million (effective 2023-01-31).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: National Westminster Bank Plc and BMW Financial Services (GB) Limited
  - Value: £200.0 million
  - Effective: 2023-01-31
  source text: On January 31, 2023, we amended and restated our revolving credit agreement among our subsidiaries in the U.K. (the "U.K. subsidiaries") and National Westminster Bank Plc and BMW Financial Services (GB) Limited ("BMW Financial") (the "U.K. credit agreement") principally to expand the facility from £150.0 million to £200.0 million, extend the term to January 2027 (with an option to extend the term to January 2028 as described below), and provide additional flexibility with respect to certain operating covenants noted below.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1019849/000101984923000014/0001019849-23-000014-index.htm

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