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Penske draws down on revolver to repay $300 million notes
By Taylor Fox
New York, Aug. 20 – Penske Automotive Group, Inc. drew down on its revolving credit facility to repay in full its $300 million senior subordinated notes due Aug. 15, 2020, at maturity, according to a news release.
Penske has $800 million remaining in available liquidity under the revolver.
Penske is a Bloomfield Hills, Mich.-based automotive retailer.
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