debt
confidence high
sentiment neutral
materiality 0.50
AutoNation issues $500M of 5.890% Senior Notes due 2035
AUTONATION, INC.
- Principal amount $500M, interest rate 5.890%, maturity March 15, 2035.
- Issued at 99.995% of par, yielding 5.890% to maturity.
- Joint book-running managers: BofA, J.P. Morgan, Mizuho, Truist, Wells Fargo.
- Notes are structurally subordinated to subsidiary liabilities; not guaranteed by subsidiaries.
- Indenture contains customary covenants limiting liens, sale-leaseback, and mergers.