Simpson Thacher Represents Underwriters in $750 Million Note Offering by AutoNation
09.24.15
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The Firm represented the underwriters led by J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC and SunTrust Robinson Humphrey, Inc. in connection with a registered offering by AutoNation, Inc. of an aggregate of $300 million principal amount of 3.35% Senior Notes due 2021 and an aggregate of $450 million principal amount of 4.5% Senior Notes due 2025.
AutoNation, through its subsidiaries, is the largest automotive retailer in the United States. As of June 30, 2015 it owned and operated 293 new vehicle franchises from 237 stores located in the United States, predominantly in major metropolitan markets in the Sunbelt region. Its stores sell 35 different new vehicle brands. The core brands of new vehicles that AutoNation sells, representing approximately 95% of the new vehicles that they sold during the six months ended June 30, 2015 are manufactured by Toyota (including Lexus), Ford, Honda, Nissan, General Motors, Mercedes-Benz, FCA US (formerly Chrysler), BMW, and Volkswagen (including Audi and Porsche).
The Simpson Thacher team for the debt offering included John D. Lobrano, Emily Nagle and Erica Lee (Capital Markets); Jonathan Cantor and Drew Purcell (Tax); and Jennie Getsin (FINRA and Blue Sky).