Financing ·
On September 8, 2026, Group 1 Automotive announced its intention to offer $1,250.0 million in aggregate principal…
GPIGroup 1 Automotive Inc
On September 8, 2026, Group 1 Automotive announced its intention to offer $1,250.0 million in aggregate principal amount of senior unsecured notes, consisting of $625.0 million due 2032 and $625.0 million due 2035. The company intends to use the net proceeds, combined with cash on hand, to fund the purchase price for its pending acquisition of dealership assets and related real estate from Hennessy Automobile Companies. If the acquisition does not close by January 6, 2027, or is terminated, the company must redeem the notes at 100% of the issue price plus accrued interest. The offering targets qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. Group 1 Automotive operates as a Fortune 250 automotive retailer with 249 dealerships in the U.S. and U.K., selling new and used vehicles, arranging financing, and providing maintenance services.