Group 1 Automotive, Inc. is planning to offer for sale $550 million in aggregate principal amount of senior unsecured notes due 2028, subject to market conditions.
The net proceeds from the offering, together with cash on hand, are intended to redeem all of the outstanding 5.000% senior notes due 2022 and pay all fees and expenses related to the offering.
The notes that are intended to be offered have not been, and will not be, registered under the Securities Act, or any state securities laws. As a result, it may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.
Additionally, these are being offered to persons reasonably believed to be qualified institutional buyers in an offering exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended and to non-U.S. persons outside of the United States in compliance with Regulation S under the Securities Act.
The press release from Group 1 Automotive contains forward-looking statements, according to PR Newswire.
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