Lithia motors, inc. proposes senior notes offering

Lithia motors, inc. announced that the company intend to offer, subject to market and other conditions, $400 million in aggregate principal amount of senior notes due 2027 in a private offering that is exempt from the registration requirements of the securities act of 1933, as amended. the company intends to use the net proceeds of the private offering to repay all amounts then outstanding under the revolving line of credit under its credit facility and the remainder for general corporate purposes, which may include funding acquisitions, capital expenditures and other debt repayment. pending final application, the net proceeds of the offering may be applied to reduce indebtedness, including under lithia’s new and used vehicle floor plan facilities. the notes will be offered and sold only to persons reasonably believed to be qualified institutional buyers in the united states pursuant to rule 144a under the securities act and outside the united states pursuant to regulation s under the securities act.
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