Asbury Automotive calls all $143.2 million of 7 5/8% notes due 2017

By Tali David

Minneapolis, Aug. 29 - Asbury Automotive Group, Inc. plans to redeem all $143.2 million of its 7 5/8% senior subordinated notes due 2017, according to a press release.

The notes will be redeemed at 102.542 plus accrued interest on Sept. 28.

The company said it intends to use cash on hand, including proceeds from its recent offering of $100 million aggregate principal amount of additional 8 3/8% senior subordinated notes due 2020 and other available borrowings to fund the redemption.

Asbury is a Duluth, Ga.-based automotive retailer.

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