Group 1 Automotive closes $3.5B revolving credit facility, upsize of $1.0B, maturity extended to 2030

GROUP 1 AUTOMOTIVE INC

New $3.5B five-year syndicated credit facility (can expand to $4.5B) replaces prior facility; maturity extended to May 30, 2030.
Facility includes $1.75B Floorplan Line and $1.75B Acquisition Line; unused Acquisition Line can be reallocated to Floorplan.
18 lenders: 6 manufacturer-affiliated finance companies (BMW, Toyota, Mercedes-Benz, Honda, VW, Hyundai) and 12 commercial banks.
Acquisition Line bears SOFR + 100-200 bps depending on leverage; Floorplan Line SOFR + 110 bps (new) / 140 bps (used).
Co-borrowers include all U.S. dealership-owning subsidiaries; secured by substantially all personal property.

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