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Prospect News home > News index > List of issuers A > Headlines for Asbury Automotive Group, Inc. > News item |
Asbury Automotive $150 million 10-year notes talked at 7¾%-8%; pricing Thursday
By Paul A. Harris
St. Louis, Dec. 17 - Asbury Automotive Group Inc.'s proposed $150 million 10-year senior subordinated notes (B3 expected/B confirmed) are talked to yield 7¾% to 8%, a syndicate source said.
The deal is expected to price Thursday afternoon.
Goldman Sachs & Co. and JP Morgan are joint bookrunners on the Rule 144A/Regulation S deal, which has registration rights. Wachovia Securities is co-manager.
The notes will come with five years of call protection.
Asbury Automotive plans to use proceeds to repay borrowings under its credit facility.
The issuer is a Stamford, Conn.-based automotive retail and service company.
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