Lithia Motors redeems $38 million of its convertibles

By Devika Patel

Knoxville, Tenn., Oct. 28 - Lithia Motors, Inc. said it repurchased and retired about $16 million of convertible debt in the third quarter and repurchased another $22 million in the fourth quarter for a total of $38 million.

The convertibles were retired at a significant discount, the company said in a press release.

Based in Medford, Ore., Lithia Motors and its subsidiaries operate automotive franchises.

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