Group 1 Automotive to repay revolver borrowings via note new offering

By Tali Rackner

Norfolk, Va., Dec. 3 – Group 1 Automotive, Inc. plans to repay amounts outstanding under the acquisition line of its revolving credit facility with the proceeds from a new $250 million senior note offering, according to a press release.

Proceeds will also be used to make a contribution to the company’s floorplan offset account and for general corporate purposes.

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

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