Group 1 repurchases $6.7 million in 2.25% convertible notes due 2036

By Devika Patel

Knoxville, Tenn., July 28 - Group 1 Automotive, Inc. said it bought back $6.7 million of its 2.25% convertible senior notes due 2036 in the second quarter.

"The combination of improving operating performance and significant reductions in debt continues to strengthen the balance sheet and ensure strong compliance with our debt covenants," Group 1's senior vice president and chief financial officer John C. Rickel said in a press release.

Group 1 is a Houston-based automotive retailer.

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