debt
confidence high
sentiment neutral
materiality 0.50
AutoNation closes $700M issuance of 3.850% Senior Notes due 2032
AUTONATION, INC.
- Issued $700M aggregate principal of 3.850% Senior Notes due 2032 at 99.835% of par (yield 3.870%).
- Notes mature March 1, 2032; interest payable semi-annually on March 1 and September 1 starting September 1, 2022.
- Underwriters include BofA Securities, J.P. Morgan, Truist, and Wells Fargo.
- Notes are unsecured, structurally subordinated; covenants restrict liens, sale/leaseback, and mergers.