group 1 automotive inc (GPI) Key Developments
Group 1 Automotive, Inc. Announces $200 Million Offering of Senior Notes
Sep 4 14
Group 1 Automotive Inc. announced that, subject to market conditions, it intends to sell in an offering in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and to persons outside of the United States pursuant to Regulation S under the Securities Act, $200 million in aggregate principal amount of its 5.000% Senior Notes due 2022, which will be part of the same class of notes as the company's existing $350 million aggregate principal amount of 5.000% Senior Notes due 2022 that were issued in June 2014. The company intends to use the net proceeds from the offering to repay borrowings outstanding under the acquisition line of its revolving credit facility and to make a contribution to its floorplan offset account, which is the amount of excess cash that is used to pay down the floorplan line of its revolving credit facility but can be immediately redrawn. Approximately $175 million of borrowings outstanding under the acquisition line were used to finance the conversion and redemption of the company's 2.25% Convertible Senior Notes due 2036.
Group 1 Automotive Inc. Presents at Goldman Sachs 21(st) Annual Global Retailing Conference, Sep-03-2014 09:35 AM
Aug 28 14
Group 1 Automotive Inc. Presents at Goldman Sachs 21(st) Annual Global Retailing Conference, Sep-03-2014 09:35 AM. Venue: The Plaza Hotel, New York, New York, United States.
Group 1 Automotive Inc. Presents at Wells Fargo 2014 Retail and Restaurants Round-Up, Sep-30-2014
Aug 22 14
Group 1 Automotive Inc. Presents at Wells Fargo 2014 Retail and Restaurants Round-Up, Sep-30-2014 . Venue: Four Seasons Hotel, 200 Boylston Street, Boston, MA 02116, United States.
Group 1 Automotive Inc. Announces Acquisition of Mercedes-Benz Dealership in Boerne, Texas
Aug 19 14
Group 1 Automotive Inc. announced the acquisition of a Mercedes-Benz dealership located in Boerne, Texas. The dealership, which will operate as Mercedes-Benz of Boerne, is expected to generate $135 million in estimated annual revenues. This dealership also includes a Mercedes-Benz Sprinter commercial vehicle franchise.
Group 1 Automotive Inc. Declares Quarterly Cash Dividend for the Second Quarter of 2014, Payable on September 16, 2014
Aug 13 14
Group 1 Automotive Inc. announced that its board of directors declared a cash dividend of $0.17 per share for the second quarter of 2014. The dividend will be payable on September 16, 2014, to stockholders of record as of September 2, 2014.