The Firm represented the underwriters, led by BofA Securities, Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Truist Securities, Inc. and Wells Fargo Securities, LLC, in connection with a registered offering by AutoNation, Inc. (“AutoNation”) of $500 million aggregate principal amount of 5.890% Senior Notes due 2035.
AutoNation, through its subsidiaries, is the largest automotive retailer in the United States. As of December 31, 2024, it owned and operated 325 new vehicle franchises from 243 stores located in the United States, predominantly in major metropolitan markets in the Sunbelt region. Its stores sell 31 different new vehicle brands. The core brands of new vehicles that AutoNation sells are manufactured by Toyota (including Lexus), Honda, Ford, General Motors, BMW, Mercedes-Benz, Stellantis and Volkswagen (including Audi and Porsche). AutoNation also owns and operates 52 AutoNation-branded collision centers, 24 AutoNation USA used vehicle stores, four AutoNation-branded automotive auction operations and three parts distribution centers, a mobile automotive repair and maintenance business, and an auto finance company.
The Simpson Thacher team for the offering included John C. Ericson and Nate Yang (Capital Markets); Jonathan Cantor and Eli Shalam (Tax); Jeanne Annarumma, J. Pasco Struhs and Alexander Kharash (Executive Compensation and Employee Benefits); Jennie Getsin and Andrew Pagliughi (FINRA and Blue Sky); and Chandler Gerard-Reimer (Intellectual Property).