Simpson Thacher represented the initial purchasers, led by joint bookrunning managers, Wells Fargo Securities, LLC, J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, in the sale of an aggregate principal amount of $300 million 5.25% Senior Notes due 2023 by Group 1 Automotive, Inc. (the “Company”). The notes are guaranteed on an unsecured senior basis by each of the Company’s existing and future domestic restricted subsidiaries that are guarantors or borrowers under the Company’s Revolving Credit Facility, which includes substantially all of the Company’s existing domestic subsidiaries.
Group 1 Automotive, Inc. is one of the largest dealership groups in the automotive retail industry in the United States with total revenue for the twelve months ended September 30, 2015 in excess of $10.5 billion. As of September 30, 2015, the Company owned and operated 200 franchises, representing 32 brands of automobiles, at 153 dealership locations as well as 35 collision service centers in the United States, the United Kingdom and Brazil.
The Simpson Thacher team included John D. Lobrano, Katerina Kousoula, Jun Won Kim and Jeff Levine (Capital Markets); Jonathan Cantor and Judy Yan (Tax); Alina Grinman (Executive Compensation and Employee Benefits); and Andrew Pagliughi (Blue Sky).