group 1 automotive inc (GPI) Key Developments
Group 1 Automotive, Inc. Completes Private Placement of $350,000,000 of its 5.000% Senior Notes Due 2022
Jun 3 14
On June 2, 2014, Group 1 Automotive Inc. completed its private placement of $350,000,000 aggregate principal amount of its 5.000% Senior Notes due 2022 to J.P. Morgan Securities LLC and the other initial purchasers. The 5.000% Notes are guaranteed on an unsecured senior basis by certain of the Company's subsidiaries. The terms of the 5.000% Notes are governed by the indenture dated as of June 2, 2014, by and among the Company, the Guarantors and Wells Fargo Bank, National Association, as trustee. The 5.000% Notes will mature on June 1, 2022, and interest is payable on the 5.000% Notes on each June 1 and December 1, commencing on December 1, 2014. At any time prior to June 1, 2017, the Company may redeem up to 35% of the original principal amount of the 5.000% Notes in an amount not greater than the proceeds of certain equity offerings at a redemption price of 105.000% of the principal amount of the 5.000% Notes, together with accrued and unpaid interest, if any, to, but excluding, the date of redemption, provided that: (i) at least 65% of the aggregate principal amount of all 5.000% Notes issued remains outstanding after each such redemption; and (ii) the redemption occurs within 120 days of the date of the closing of such equity offering. Prior to June 1, 2017, the Company may redeem all or a part of the 5.000% Notes at a redemption price equal to 100% of the principal amount of the 5.000% Notes redeemed plus an applicable make-whole premium, and accrued and unpaid interest, if any, on the 5.000% Notes redeemed to, but excluding, the applicable date of redemption.
Group 1 Automotive Inc. Presents at Stifel 2014 Consumer Conference, Jun-03-2014 09:00 AM
May 29 14
Group 1 Automotive Inc. Presents at Stifel 2014 Consumer Conference, Jun-03-2014 09:00 AM. Venue: St. Regis New York, New York, New York, United States.
Group 1 Automotive Inc. Elects Lincoln Pereira as Director
May 22 14
Group 1 Automotive Inc. announced at the AGM held on May 20, 2014, the shareholders elected Lincoln Pereira as director.
Group 1 Automotive Declares Cash Dividend for the First Quarter of 2014 Payable on June 16, 2014
May 19 14
Group 1 Automotive Inc. announced that its board of directors declared a cash dividend of $0.17 per share for the first quarter of 2014. The dividend will be payable on June 16, 2014, to stockholders of record as of June 2, 2014.
Group 1 Automotive Inc. Announces Pricing of $350 Million Upsized Offering of Senior Notes
May 16 14
Group 1 Automotive Inc. announced the pricing of its private placement of $350 million of 5.00% senior unsecured notes due 2022. The offering size was increased to $350 million from $300 million. The offering is expected to close on June 2, 2014, subject to customary closing conditions. The company intends to use the net proceeds from the offering, together with the net proceeds, if any, from the termination of certain call options and warrants, to finance the purchase of its 3.00% Convertible Senior Notes due 2020, to repay amounts outstanding under the acquisition line of its revolving credit facility, to make a contribution to its floorplan offset account and for working capital requirements and general corporate purposes.