---
schema_version: "secwatch.filing_event.v1"
accession: "0001023128-22-000080"
form_type: "8-K"
ticker: "LAD"
cik: "0001023128"
company_name: "LITHIA MOTORS INC"
filed_at: "2022-06-08T23:59:59+00:00"
generated_at: "2026-06-25T03:24:53.335329+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Lithia Motors amends credit facility to $3.75B, adopts SOFR; signs $1.125B CAD Canadian credit agreement

## Summary
- Second Amendment to $3.75B credit facility; expansion option to $4.5B; replaces LIBOR with SOFR.
- Reallocated commitments: up to $1B used vehicle floorplan, $1B revolving, $1.7B new vehicle floorplan, $50M service loaner.
- Real property borrowing base cap increased to $1B; aggregate revolving loan commitment limited to 40% of total.
- Canadian Credit Agreement: $1.125B CAD from BNS-led syndicate; includes revolving, wholesale flooring, used vehicle, wholesale leasing, daily rental facilities.
- Canadian credit matures June 3, 2025; financial covenants: fixed charge coverage >=1.20x, leverage <=5.75x.

## SEC filing metadata
- accession: 0001023128-22-000080
- form_type: 8-K
- ticker: LAD
- cik: 0001023128
- company_name: LITHIA MOTORS INC
- filed_at: 2022-06-08T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1023128/000102312822000080/0001023128-22-000080-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1023128/000102312822000080/lad-20220602.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001023128-22-000080
- JSON: https://secwatch.observer/filing/0001023128-22-000080.json
- Plain text: https://secwatch.observer/filing/0001023128-22-000080.txt

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