Lithia Motors increases revolver to $2.8 billion, extends to 2025

By Sarah Lizee

Olympia, Wash., Dec. 13 – Lithia Motors Inc. completed an amendment and extension of its existing syndicated revolving credit facility, increasing the total financing commitment to $2.8 billion and extending the maturity date to Jan. 1, 2025.

The syndicated credit facility can be expanded to $3.2 billion in total availability, subject to lender approval, according to a press release.

The interest rate was reduced to Libor plus 100 basis points to 200 bps, based on Lithia’s consolidated lease adjusted leverage ratio.

Lithia Motors is a Medford, Ore.-based automotive retailer.

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