US EditionGroup 1 Automotive Announces Maturity Extension and Upsize of Revolving Credit Facility to $3.5 Billion
- Group 1 Automotive, a Fortune 250 company with 263 dealerships across the U.S. And U.K., has increased its revolving credit line by $1 billion, bringing the total commitment to $3.5 billion and extending the facility's maturity to May 30, 2030.
- The upsize and extension are designed to enhance Group 1's ability to obtain affordable financing and support its business plans in response to changing economic and trade environments.
- The amended credit agreement involves a group of 18 lenders, comprising a mix of six finance companies linked to manufacturers and a dozen commercial banking institutions, with the facility’s total amount potentially increasing to $4.5 billion pending approval from the lenders.
- Senior Vice President Daniel McHenry highlighted that the $3.5 billion credit facility enhances the company’s financial adaptability by improving access to affordable capital, and expressed gratitude to the lenders for their continued partnership.
- This credit facility enhancement signals Group 1’s commitment to sustain operations and growth amid risks like inflation, trade policy changes, and supply chain disruptions affecting the automotive retail sector.
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The Norfolk Daily News+15 Reposted by 15other sources
Group 1 Automotive Announces Maturity Extension and Upsize of Revolving Credit Facility to $3.5 Billion
HOUSTON, May 30, 2025 /PRNewswire/ -- Group 1 Automotive, Inc. (NYSE: GPI) ("Group 1" or the "Company"), a Fortune 250 automotive retailer with 263 dealerships located in the U.S. and U.K., today announced a $1.0 billion upsize in its revolving…
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