Group 1 holders may convert 2.25%, 3% convertibles through Sept. 30

By Marisa Wong

Madison, Wis., July 7 – Group 1 Automotive, Inc. holders may convert the company’s 3% convertible senior notes due 2020 and its 2.25% convertible senior notes due 2036 during the quarter ending Sept. 30, according to an 8-K filing with the Securities and Exchange Commission.

The notes are convertible, because the last reported sale price of Group 1’s common stock was at least 130% of the conversion price for at least 20 out of the 30 consecutive trading days for the quarter ended June 30.

The company’s stock (NYSE: GPI) closed at $87.34 on July 3.

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

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