AutoNation ups revolver to $2.0B, extends credit facility maturity to 2031

AUTONATION, INC.

Revolver commitment increased to $2.0 billion (from $1.9 billion) under Fifth Amended and Restated Credit Agreement.
Accordion feature raised to $1.0 billion (up from $500 million) for commitment increases and added term loans.
Maturity extended to September 14, 2031; commitment fees and loan margins same or lower than prior agreement.
Covenants unchanged: max leverage 3.75x (step-up to 4.25x for four quarters after material acquisition); min interest coverage 3.00x.
JPMorgan Chase Bank remains Administrative Agent; syndication agents include Bank of America, Mizuho, Truist, Wells Fargo.

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