Asbury to offer $250 million aggregate principal amount of additional senior notes

Asbury Automotive Group, Inc. is planning to offer up to $250 million aggregate principal amount of additional senior notes.

These will be comprised of senior notes due 2028 (the "additional 2028 notes") and senior notes due 2030 (the "additional 2030 notes"), collectively identified as the “additional notes."

Each series are part of the same issuance of, and will rank equally and form a single series, respectively, with the $280 million outstanding aggregate principal amount of the company’s 4.50% senior notes due 2028 (the "2028 notes"), and the $320 million outstanding aggregate principal amount of Asbury's 4.75% senior notes due 2030 (the "2030 notes"), which were issued on Feb. 19.

The 2028 notes and 2030 notes are collectively identified as the "existing notes."

The additional notes of each series will have the same terms as the Existing Notes of each series, including being guaranteed, jointly and severally, by each existing and future restricted subsidiary of Asbury that guarantees Asbury's existing senior credit facility.

In compliance with Rule 144A of the Securities Act, the Additional Notes of each series and related guarantees will be offered only to qualified institutional buyers, and to non-U.S. persons in transactions outside the United States under Regulation S of the Securities Act.

Asbury’s press release contains statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the federal securities laws, according to PR Newswire.