The Firm represented the underwriters, led by J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC, in connection with a registered offering by AutoNation, Inc. of an aggregate of $450 million principal amount of 3.5% Senior Notes due 2024 and an aggregate of $300 million principal amount of 3.8% Senior Notes due 2027.
AutoNation, through its subsidiaries, is the largest automotive retailer in the United States. As of September 30, 2017, it owned and operated 361 new vehicle franchises from 254 stores located in the United States, predominantly in major metropolitan markets in the Sunbelt region. Its stores sell 33 different new vehicle brands. The core brands of new vehicles that AutoNation sells, representing approximately 93% of the new vehicles that it sold during the nine months ended September 30, 2017, are manufactured by Toyota (including Lexus), Honda, Ford, General Motors, FCA U.S., Mercedes-Benz, Nissan, BMW and Volkswagen (including Audi and Porsche). AutoNation also owns and operates 73 AutoNation branded collision centers.
The Simpson Thacher team for the debt offering included John D. Lobrano, John Ericson, Sung Bum Cho and Susan Wang (Capital Markets); Jonathan Cantor and Deborah Plum (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); Adeeb Fadil (Environmental); and Jennie Getsin (FINRA and Blue Sky).