Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.85
GROUP 1 AUTOMOTIVE INC incurred credit facility of $84,500,000 with AmeriCredit Financial Services, Inc., doing business as GM Financial at prime rate minus 100 basis points.
- Instrument
- credit facility
- Principal
- $84,500,000
- Counterparty
- AmeriCredit Financial Services, Inc., doing business as GM Financial
- Rate
- prime rate minus 100 basis points
- Event
- incurrence
Exact text from the filing
brand, use or other criteria). As of the Closing Date, the aggregate maximum amount of floorplan financing indebtedness that may be incurred under the GM Floorplan Facility is $84,500,000. Interest on the advances under the GM Floorplan Facility accrues at the prime rate minus 100 basis points. The GM Floorplan Facility is secured by, among other things, new motor
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
GROUP 1 AUTOMOTIVE INC entered into GM Floorplan Facility with AmeriCredit Financial Services, Inc. valued at $84,500,000 (effective 2023-12-08).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- AmeriCredit Financial Services, Inc.
- Value
- $84,500,000
- Effective
- 2023-12-08
Exact text from the filing
Effective December 8, 2023 (the "Closing Date"), GPI TX-G, Inc., GPI TX-GII, Inc. and GPI TX-GIII, Inc. (collectively, the "Closing Date Borrowers"), each a subsidiary of Group 1 Automotive, Inc. (the "Company"), entered into a master loan agreement and addendum to master loan agreement (collectively, the "GM Floorplan Facility") with AmeriCredit Financial Services, Inc., doing business as GM Financial, as lender (the "Lender"), providing a discretionary floorplan credit facility for new motor vehicles, demonstrator vehicles and courtesy vehicles manufactured by divisions of General Motors Corporation ("GM").
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