{"schema_version":"secwatch.filing_event.v1","accession":"0001019849-23-000062","form_type":"8-K","ticker":"PAG","cik":"0001019849","company_name":"PENSKE AUTOMOTIVE GROUP, INC.","filed_at":"2023-04-21T23:59:59+00:00","discovered_at":"2026-05-14T18:03:37.624918+00:00","generated_at":"2026-06-16T20:58:30.687031+00:00","sec_items":["1.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Penske Automotive increases U.S. credit facility from $800M to $1.2B, adds Daimler Truck as lender","bullets":["Borrowing capacity raised to $1.2B from $800M; includes $75M letters of credit and $400M sublimit for foreign acquisitions.","Interest rate transitions from LIBOR to SOFR but remains at plus 1.50%, with an incremental 1.50% for uncollateralized borrowings.","New lender added: Daimler Truck Financial Services USA LLC; existing lenders Mercedes-Benz Financial and Toyota Motor Credit.","Credit agreement matures September 30, 2025; fully guaranteed by U.S. subsidiaries and secured by substantially all U.S. assets.","Covenants updated to provide additional flexibility; terms include typical events of default and financial ratios."],"urls":{"canonical":"https://secwatch.observer/filing/0001019849-23-000062","json":"https://secwatch.observer/filing/0001019849-23-000062.json","markdown":"https://secwatch.observer/filing/0001019849-23-000062.md","text":"https://secwatch.observer/filing/0001019849-23-000062.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1019849/000101984923000062/0001019849-23-000062-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1019849/000101984923000062/pag-20230420.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T20:58:30.687031+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"8df50f0dea96ed1eeccd3ca6eca3b63233572b0c","claim":"PENSKE AUTOMOTIVE GROUP, INC. amended Tenth Amendment with Mercedes-Benz Financial Services USA LLC, Toyota Motor Credit Corporation, and Daimler Truck Financial Services USA LLC valued at $1.2 billion (effective 2023-04-20).","evidence_excerpt":"On April 20, 2023, we entered into the Tenth Amendment (the “Amendment”) to our U.S. credit agreement with Mercedes-Benz Financial Services USA LLC and Toyota Motor Credit Corporation (as amended, the “U.S. Credit Agreement”) principally to increase the facility borrowing capacity from $800 million to $1.2 billion, add an additional lender, Daimler Truck Financial Services USA LLC, and provide us with additional flexibility in regard to the operating covenants discussed below.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1019849/000101984923000062/0001019849-23-000062-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Mercedes-Benz Financial Services USA LLC, Toyota Motor Credit Corporation, and Daimler Truck Financial Services USA LLC"},{"label":"Value","value":"$1.2 billion"},{"label":"Effective","value":"2023-04-20"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}