Lithia & Driveway (NYSE: LAD) plans to offer $500 million in senior notes due 2030 in a private offering.
The net proceeds will be used to repay borrowings under revolving lines of credit and for general corporate purposes.
The Notes will be offered to qualified institutional buyers in the US and outside under specified regulations.
Senior Notes Offering
Lithia & Driveway intends to offer $500 million in senior notes due 2030 in a private offering.
Use of Proceeds
The net proceeds will be used to repay borrowings under revolving lines of credit and for general corporate purposes.
Regulations
The Notes will be offered only to qualified institutional buyers in the US and outside under specific regulations.
- Forward-looking statements have been made regarding the Private Offering.
- Potential risks and uncertainties may affect the actual results of operations and financial condition of Lithia & Driveway.
The proposed Senior Notes Offering by Lithia & Driveway reflects the company's strategic financing plans and commitment to addressing financial needs and opportunities in the automotive industry.