The Firm represented the underwriters, led by BofA Securities, Inc., J.P. Morgan Securities LLC, SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC, in connection with a registered offering by AutoNation, Inc. of $500 million aggregate principal amount of 4.75% Senior Notes due 2030.
AutoNation, through its subsidiaries, is the largest automotive retailer in the United States. As of March 31, 2020, it owned and operated 317 new vehicle franchises from 231 stores located in the United States, predominantly in major metropolitan markets in the Sunbelt region. Its stores sell 32 different new vehicle brands. The core brands of new vehicles that AutoNation sells are manufactured by Toyota (including Lexus), Honda, General Motors, Ford, FCA US, Mercedes-Benz, BMW and Volkswagen (including Audi and Porsche). AutoNation also owns and operates 81 AutoNation branded collision centers, 5 AutoNation USA stores, 4 automotive auction operations and 16 parts distribution centers.
The Simpson Thacher team for the debt offering included John C. Ericson, Jonathan Pacheco, Jesse Schulman and Samantha Sergent (Capital Markets); Jonathan Cantor and Eli Shalam (Tax); Jeanne Annarumma and Monisha Bhayana (Executive Compensation and Employee Benefits); Jennie Getsin (FINRA and Blue Sky); and Lori Lesser (IP).