Group 1 swaps BNP for Mercedes-Benz Financial in revolver syndicate

By Sara Rosenberg

New York, July 6 - Group 1 Automotive Inc. announced that Mercedes-Benz Financial has signed on as a lender to its existing $1.35 billion revolving credit facility, replacing BNP Paribas, according to a news release.

Including Mercedes-Benz Financial, the lenders in the facility now consist of four captive finance companies and 16 commercial banks.

Group 1 is a Houston-based owner and operator of automotive dealerships, franchises and collision service centers.

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