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Benzinga
Benzinga
Business
Shivani Kumaresan

AutoNation Raises $700M Via Debt Offering

AutoNation AN AutoNation Inc NYSE
  • AutoNation Inc (NYSE:AN) has priced the $700 million of senior unsecured notes due 2032 at 3.850%.
  • The notes will be issued at 99.835% of the aggregate principal amount, representing a yield to maturity of 3.870%. 
  • The offering is expected to close on February 28, 2022, subject to customary closing conditions.
  • AutoNation intends to use the net proceeds from the sale of the notes for general corporate purposes, strategic initiatives, acquisitions, and share repurchases.
  • Price Action: AN shares closed lower by 1.08% at $104.20 on Wednesday.
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