Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
ASBURY AUTOMOTIVE GROUP INC incurred term loan of $546,528,750 with Wells Fargo Bank, National Association at SOFR plus 2% per annum or Base Rate plus 1% per annum maturing ten years from the initial funding date.
- Instrument
- term loan
- Principal
- $546,528,750
- Counterparty
- Wells Fargo Bank, National Association
- Rate
- SOFR plus 2% per annum or Base Rate plus 1% per annum
- Maturity
- ten years from the initial funding date
- Event
- incurrence
Exact text from the filing
On July 21, 2025, certain subsidiaries of Asbury Automotive Group, Inc. (the “Company”) borrowed $546,528,750 (the “Real Estate Facility”) under a real estate term loan credit agreement, dated as of July 21, 2025 (the “Real Estate Credit Agreement”) by and among the Company, certain of the Company’s subsidiaries that own or lease the real estate financed thereunder, as borrowers, Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent, and the various financial institutions parties thereto, as lenders (the “Lenders”).
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M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
ASBURY AUTOMOTIVE GROUP INC completed an acquisition involving The Herb Chambers Companies for aggregate net purchase price of approximately $1.45 billion, which includes $750 million for goodwill, approximately $610 million for the real estate and leaseh (closed 2025-07-21).
- Action
- acquisition
- Counterparty
- The Herb Chambers Companies
- Consideration
- aggregate net purchase price of approximately $1.45 billion, which includes $750 million for goodwill, approximately $610 million for the real estate and leaseh
- Closing
- 2025-07-21
Exact text from the filing
On July 21, 2025, Asbury Automotive Group, LLC, a Delaware limited liability company and a wholly-owned subsidiary of the Company, completed its previously announced acquisition of substantially all of the assets (the “Transaction”), including real property and businesses of The Herb Chambers Companies (collectively, the “Businesses”), pursuant to a Purchase and Sale Agreement with various entities that comprise the Herb Chambers automotive dealerships group for an aggregate net purchase price of approximately $1.45 billion, which includes $750 million for goodwill, approximately $610 million for the real estate and leasehold improvements, and approximately $85 million for new vehicles, used vehicles, service loaner vehicles, fixed assets, parts and supplies, which is net of non-manufacturer floorplan of $375 million.
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