---
schema_version: "secwatch.filing_event.v1"
accession: "0001031203-23-000045"
form_type: "8-K"
ticker: "GPI"
cik: "0001031203"
company_name: "GROUP 1 AUTOMOTIVE INC"
filed_at: "2023-12-11T23:59:59+00:00"
generated_at: "2026-06-07T14:35:44.580369+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Group 1 Automotive enters $84.5M GM floorplan facility with GM Financial at prime minus 100 bps

## Summary
- Subsidiaries GPI TX-G, GPI TX-GII, GPI TX-GIII entered floorplan facility with GM Financial on Dec 8, 2023.
- Aggregate maximum $84.5M; interest at prime rate minus 100 basis points.
- Facility secured by new vehicle inventory; guaranteed by Group 1 on unsecured basis.
- Covenants restrict asset sales, additional debt, liens, investments, mergers; standard default provisions.
- Facility is discretionary; lender may refuse advances.

## SEC filing metadata
- accession: 0001031203-23-000045
- form_type: 8-K
- ticker: GPI
- cik: 0001031203
- company_name: GROUP 1 AUTOMOTIVE INC
- filed_at: 2023-12-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1031203/000103120323000045/0001031203-23-000045-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1031203/000103120323000045/gpi-20231208.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001031203-23-000045
- JSON: https://secwatch.observer/filing/0001031203-23-000045.json
- Plain text: https://secwatch.observer/filing/0001031203-23-000045.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1031203/000103120323000045/0001031203-23-000045-index.htm
- Material Agreements
  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
  source text: 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").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1031203/000103120323000045/0001031203-23-000045-index.htm

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