AutoNation plans to price fixed-rate senior notes due 2032

By Marisa Wong

Los Angeles, Feb. 23 – AutoNation, Inc. plans to price fixed-rate senior notes due 2032, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will feature a make-whole call and then a par call.

BofA Securities, Inc., J.P. Morgan Securities LLC, Truist Securities, Inc., Wells Fargo Securities, LLC, Mizuho Securities USA LLC and U.S. Bancorp Investments, Inc. are the joint bookrunners.

Skadden, Arps, Slate, Meagher & Flom LLP and in-house counsel are advising the company on legal matters. Simpson Thacher & Bartlett LLP is counsel to the underwriters.

Proceeds will be used for general corporate purposes, which may include reducing borrowings under the company’s commercial paper program or revolving credit facility, strategic initiatives, acquisitions and share repurchases.

The automotive retailer is based in Fort Lauderdale, Fla.

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