The Firm represented the underwriters, led by BofA Securities, Inc., J.P. Morgan Securities LLC, Truist Securities, Inc. and Wells Fargo Securities, LLC, in connection with a registered offering by AutoNation, Inc. (“AutoNation”) of $400 million aggregate principal amount of 1.95% Senior Notes due 2028 and $450 million aggregate principal amount of 2.4% Senior Notes due 2031.
AutoNation, through its subsidiaries, is the largest automotive retailer in the United States. As of June 30, 2021, it owned and operated 312 new vehicle franchises from 228 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, Ford, General Motors, Mercedes-Benz, Stellantis (formerly FCA), BMW and Volkswagen (including Audi and Porsche). AutoNation also owns and operates 72 AutoNation-branded collision centers, six AutoNation USA used vehicle stores, four AutoNation-branded automotive auction operations and three parts distribution centers.
The Simpson Thacher team for the debt offering included John C. Ericson and Adriana Estor-Restrepo (Capital Markets); Michael Mann and Eli Shalam (Tax); Jeanne Annarumma and Guanxiong Xu (Executive Compensation and Employee Benefits); Jennie Getsin (FINRA and Blue Sky); and Genevieve Dorment and Kate Mirino (IP). Summer Associate Leah Zukerman also provided valuable assistance.