AutoNation Prices Notes

By Staff Writer May 21, 2020

AutoNation, Inc. announced the pricing of $500 million aggregate principal amount of senior unsecured notes due 2030 at 4.750 percent. The notes will be issued at 99.479 percent of the aggregate principal amount, representing a yield to maturity of 4.816 percent. The offering is expected to close on May 22, 2020, subject to customary closing conditions.

The company intends to use the net proceeds from the offering of the notes for general corporate purposes, which may include, in the short term, reducing borrowings under its commercial paper program and/or its revolving credit facility and, in the longer term, repaying its 3.350 percent senior unsecured notes due 2021.

B of A Securities, Inc., J.P. Morgan Securities LLC, SunTrust Robinson Humphrey, Inc., Wells Fargo Securities, LLC, Mizuho Securities USA LLC, and U.S. Bancorp Investments, Inc. are acting as joint book-running managers of the debt offering.

The offering is being made solely by means of a prospectus supplement and accompanying prospectus, which has been filed with the Securities and Exchange Commission.

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Last modified on Thursday, 21 May 2020 14:09

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