Lithia Motors plans $500 million offering of eight-year senior notes

By Wendy Van Sickle

Columbus, Ohio, May 18 – Lithia Motors & Driveway is planning a $500 million offering of senior notes due 2029, according to a news release on Tuesday.

Proceeds of the Rule 144A and Regulation S offering are planned to be used 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.

The company is also planning an offering of $1 billion shares of its class A common stock.

The provider of transportation solutions is based in Medford, Ore.

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