Group 1's 3% senior notes convertible for quarter ending Dec. 31

By Tali David

Minneapolis, Oct. 10 - Group 1 Automotive, Inc.'s 3% convertible senior notes due 2020 are convertible during the quarter ending Dec. 31, according to an 8-K filed with the Securities and Exchange Commission.

The company notified holders on Oct. 9 that an event triggering convertibility of the notes occurred on Sept. 28.

The last reported sale price of Group 1's common stock for at least 20 trading days in the final 30 consecutive trading-day period for the quarter ended Sept. 30 was greater than or equal to 130% of the conversion price in effect.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.