Group 1 Automotive issues $500M 6.375% Senior Notes due 2030; proceeds to repay revolver

GROUP 1 AUTOMOTIVE INC

$500M aggregate principal amount of 6.375% senior unsecured notes maturing Jan 15, 2030.
Net proceeds of ~$494.5M after discounts and expenses; used to repay revolving credit facility and for general corporate purposes.
Notes offered in a private placement; closing occurred July 30, 2024.
Interest payable Jan 15 and Jul 15, first payment Jan 15, 2025. Redemption provisions include make-whole prior to Jul 15, 2026.
Covenants restrict additional debt, dividends, asset sales, and mergers; suspended if Notes achieve investment-grade ratings.

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