---
schema_version: "secwatch.filing_event.v1"
accession: "0001023128-21-000107"
form_type: "8-K"
ticker: "LAD"
cik: "0001023128"
company_name: "LITHIA MOTORS INC"
filed_at: "2021-09-03T23:59:59+00:00"
generated_at: "2026-06-29T05:43:10.560859+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Lithia Motors secures up to $700M CAD in credit facilities for Canada expansion with Pfaff

## Summary
- Three credit facilities: $50M CAD working capital revolver, $300M CAD floor plan, $350M CAD wholesale lease financing.
- Facilities support Lithia's entry into Canada via partnership with Toronto-based Pfaff Automotive Partners.
- Interest rates: Prime or CDOR plus spreads ranging from 0.25% to 1.50% per annum.
- Covenants require fixed charge coverage ≥1.20:1 and leverage ≤5.75:1; secured by personal property of Canadian borrowers.
- Bank of Nova Scotia is lender; facilities repayable on demand with standard default provisions.

## SEC filing metadata
- accession: 0001023128-21-000107
- form_type: 8-K
- ticker: LAD
- cik: 0001023128
- company_name: LITHIA MOTORS INC
- filed_at: 2021-09-03T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1023128/000102312821000107/0001023128-21-000107-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1023128/000102312821000107/lad-20210830.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001023128-21-000107
- JSON: https://secwatch.observer/filing/0001023128-21-000107.json
- Plain text: https://secwatch.observer/filing/0001023128-21-000107.txt

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