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Prospect News home > News index > List of issuers Tenders > Headlines for 2021 > News item
Published on 5/19/2021 in the Prospect News High Yield Daily and Prospect News Liability Management Daily.

Lithia Motors plans to use new notes to buy back 5¼% senior notes due 2025

Chicago, May 19 – Lithia Motors Inc. announced that it plans to use the proceeds from a new offer of 3 7/8% notes to redeem or repurchase its $300 million outstanding 5¼% senior notes due 2025, according to a press release.

The new notes were upsized to $800 million from $500 million, and with the upsizing the redemption of the notes was added to the use of proceeds.

The issuer is a Medford, Ore.-based chain of car dealerships.


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