Group 1 upsizes revolving credit facility to $2.5B, expandable to $3.0B

GROUP 1 AUTOMOTIVE INC

Added $500M in commitments from 20 financial institutions; total facility now $2.5B.
Facility matures March 2027; can be expanded by up to an additional $500M to $3.0B.
Includes six manufacturer-affiliated lenders (Toyota, BMW, Honda, VW, Mercedes, Hyundai) and 14 banks.
U.S. Bank, JPMorgan, BofA, PNC, and Wells served as arrangers.
Proceeds intended for vehicle financing and acquisition growth, per CFO Daniel McHenry.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

GROUP 1 AUTOMOTIVE INC amended revolving credit of $500.0 million increase, aggregate maximum borrowing amount of $2.5 billion as of the Closing Date and a total Credit Fa with Group 1 Automotive, Inc. and certain subsidiaries.

Instrument: revolving credit
Principal: $500.0 million increase, aggregate maximum borrowing amount of $2.5 billion as of the Closing Date and a total Credit Fa
Counterparty: Group 1 Automotive, Inc. and certain subsidiaries
Event: amendment

Exact text from the filing

Effective April 30, 2024 (the “Closing Date”), Group 1 Automotive, Inc. (the “Company”) and certain subsidiaries of the Company entered into an amendment (together with certain commitment increase agreements entered into in connection therewith, collectively, the “Increase Documents”) to the Company’s existing twelfth amended and restated revolving credit agreement (the “Credit Agreement” and the revolving credit facility established thereby, the “Credit Facility”), which Increase Documents increased the total commitments under the Credit Facility by $500.0 million and allow for future increases of up to an additional $500.0 million, for an aggregate maximum borrowing amount of $2.5 billion as of the Closing Date and a total Credit Facility size of up to $3.0 billion.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GROUP 1 AUTOMOTIVE INC amended Increase Documents with certain subsidiaries valued at $500.0 million (effective 2024-04-30).

Action: amendment
Agreement: credit facility
Counterparty: certain subsidiaries
Value: $500.0 million
Effective: 2024-04-30

Exact text from the filing

Group 1 Automotive, Inc. (the “Company”) and certain subsidiaries of the Company entered into an amendment (together with certain commitment increase agreements entered into in connection therewith, collectively, the “Increase Documents”) to the Company’s existing twelfth amended and restated revolving credit agreement (the “Credit Agreement” and the revolving credit facility established thereby, the “Credit Facility”), which Increase Documents increased the total commitments under the Credit Facility by $500.0 million

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306 debt financings filed in the last 30 days. Browse all debt financings →

GROUP 1 AUTOMOTIVE INC filing history →

Source: SEC EDGAR

accession 0001031203-24-000036

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