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Simpson Thacher represented Group 1 Automotive, Inc. (NYSE: GPI), an international, Fortune 500 automotive retailer, in its $1.8 billion five-year revolving syndicated credit facility with 23 financial institutions that will expire in June 2024 and can be expanded to $2.1 billion total availability. The revolving facility will provide $1.44 billion for inventory floorplan financing. The facility will also provide $360 million for working capital, acquisitions and general corporate purposes, of which up to $125 million can be borrowed in either Euros or Pounds Sterling.

Group 1 owns and operates 181 automotive dealerships, 233 franchises and 47 collision centers in the United States, the United Kingdom and Brazil that offer 30 brands of automobiles. Through its dealerships, the Company sells new and used cars and light trucks; arranges related vehicle financing; sells service contracts; provides automotive maintenance and repair services; and sells vehicle parts.

The Simpson Thacher team included Robert Rabalais, Andrew Lanius and Michael Paparozzi (Banking and Credit); Nicole Humphrey (Tax); and Andrew Blau and Caitlin Grimes (ERISA).