Group 1 Automotive to start roadshow Friday for $150 million 10-year notes

By Paul A. Harris

St. Louis, July 31 - The roadshow starts Friday for Group 1 Automotive Inc.'s offering of $150 million senior subordinated notes due 2013 (expected ratings B1/B+), according to an informed source.

The deal is expected to price on August 8, the source added.

Goldman Sachs & Co. is the bookrunner for the Rule 144A offering.

The notes will be callable with a Treasuries plus 50 basis points make-whole call for the first five years and then at premium.

Group 1 will use proceeds for general corporate purposes, including retiring its 10 7/8% senior subordinated notes due 2009, and for potential acquisitions.

The company is a Houston-based auto retailer and provider of financing and repair services.

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