Lithia Motors to price $500 million 10.25-year notes on Wednesday

By Paul A. Harris

Portland, Ore., Sept. 29 – Lithia Motors, Inc. scheduled an investor conference call to begin at 11 a.m. ET on Wednesday ahead of a $500 million offering of senior notes due 2031, which is set to price later in the day, according to a syndicate source.

Goldman Sachs & Co. LLC is the left bookrunner. J.P. Morgan Securities LLC, Wells Fargo Securities LLC and U.S. Bancorp Investments Inc. are the joint bookrunners.

The Rule 144A and Regulation S for life notes become callable after five years at par plus 50% of the coupon.

The Medford, Ore.-based provider of transportation solutions plans to use the proceeds for general corporate purposes, which could include financing possible acquisitions, repayment of obligations that have matured, reducing or refinancing debt, working capital and capital expenditures.

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