Group 1 Automotive, Inc. Completes Upsizing of Revolving Credit Facility to $2.5 Billion
05.09.24
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Simpson Thacher represented Group 1 Automotive, Inc. (NYSE: GPI) in connection with a $500 million upsize to its syndicated revolving credit facility, which now totals $2.5 billion and can be increased further to up to $3.0 billion in availability. Lenders in the revolving credit facility include six manufacturer-affiliated finance companies and 14 commercial banks, and the facility consists of two tranches: one for U.S. vehicle inventory floorplan financing and another for working capital and general corporate purposes, including acquisitions. U.S. Bank National Association acted as administrative agent.
GPI owns and operates 43 collision centers and 203 automotive dealerships across 265 franchises in the U.S. and the U.K., collectively offering 35 brands of automobiles.
The Simpson Thacher team included Matthew Einbinder, Brandon Barton, Kaylee Yocum and Jack Davis (Banking and Credit).