Asbury Automotive to start roadshow Monday for $150 million 10-year deal

By Paul A. Harris

St. Louis, Dec. 12 - Asbury Automotive Group will begin a roadshow on Monday for $150 million of 10-year senior subordinated notes (B3 expected/B confirmed), a source said. The deal is expected to price on Thursday.

Goldman Sachs & Co. and JP Morgan are joint bookrunners on the Rule 144A/Regulation S with registration rights offering.

The notes, which mature in 2013, will be non-callable for five years.

Asbury Automotive, a Stamford, Conn.-based automotive retail and service company, plans to use proceeds to repay borrowings under the existing credit facility.

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