Group 1 Automotive closes USD 1.25 billion senior notes offering - GPI News | RalliesGroup 1 Automotive closes USD 1.25 billion senior notes offering
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GPI• Senior notes offering closes
- Group 1 Automotive closed a USD 1.25 billion private placement of senior unsecured notes.
- Issuance split between USD 625 million 6.25% senior unsecured notes due 2032 and USD 625 million 6.625% senior unsecured notes due 2035.
- Net proceeds earmarked for the Hennessy dealership assets acquisition, including related fees and expenses.
- Until the acquisition closes, proceeds will repay revolving credit facility borrowings tied to the acquisition line.
- If the acquisition does not close by Jan. 6, 2027, notes face special mandatory redemption at 100% of issue price.
