Group 1 Automotive Closes $1.25 Billion Notes Offering

05:03 PM EDT, 09/22/2026 (MT Newswires) -- Group 1 Automotive (GPI) said Tuesday it closed $625 million of 6.25% senior unsecured notes due 2032 and $625 million of 6.625% senior unsecured notes due 2035. The proceeds will be used to fund the purchase price for the previously announced acquisition of certain dealership assets and related real estate from Hennessy Automobile Companies, as well as related fees and expenses. Pending the acquisition, the proceeds will be used to repay a portion of borrowings under the acquisition line of its revolving credit facility, which Group 1 expects to reborrow when the acquisition closes. If the Hennessy acquisition is not completed by the applicable outside date or certain other events occur, Group 1 will be required to redeem the 2032 Notes. In that case, proceeds not used for the redemption will be used to repay borrowings under its revolving credit facility and for general corporate purposes, the company added.