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 $700 million aggregate principal amount of 3.85% Senior Notes due 2032.
AutoNation, through its subsidiaries, is the largest automotive retailer in the United States. As of December 31, 2021, it owned and operated 339 new vehicle franchises from 247 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 are manufactured by Toyota (including Lexus), Honda, Ford, General Motors, Stellantis, Mercedes-Benz, BMW and Volkswagen (including Audi and Porsche). AutoNation also owns and operates 57 AutoNation-branded collision centers, nine AutoNation USA used vehicle stores, four AutoNation-branded automotive auction operations and three parts distribution centers.
The Simpson Thacher team for the offering included John C. Ericson and Ben Carson (Capital Markets); Jonathan Cantor and Eli Shalam (Tax); Jeanne Annarumma and Brian Chung (Executive Compensation and Employee Benefits); Jennie Getsin (FINRA and Blue Sky); and Genevieve Dorment and Rachelle Broida (IP).