Firm Represents Underwriters in $350 Million Notes Offering by AutoNation, Inc.
02.02.12
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The Firm represented BofA Merrill Lynch, J.P. Morgan Securities, Wells Fargo Securities and SunTrust Robinson Humphrey as joint book-running managers and the other underwriters in connection with a public offering by AutoNation, Inc. of $350 million 5.500% Senior Notes due 2020. The offering closed on February 1, 2012.
AutoNation, Inc., through its subsidiaries, is the largest automotive retailer in the United States. As of September 30, 2011, it owned and operated 257 new vehicle franchises from 214 stores located in major metropolitan markets, predominantly in the Sunbelt region of the United States. The company’s stores sell 32 different brands of new vehicles. The core brands of vehicles sold, representing approximately 90% of the new vehicles that sold by the Company during the nine months ended September 30, 2011, are manufactured by Ford, Toyota, Nissan, General Motors, Honda, Mercedes, BMW, and Chrysler.
The Simpson Thacher team included John Lobrano, Estella Chen and Brian Kim (Capital Markets); Jeanne Annarumma (Executive Compensation & Employee Benefits); Jonathan Cantor and Danny Salinas (Tax); and Andrew Pagliughi (FINRA and Blue Sky).