Lithia Motors buys back remaining 2.875% convertibles due 2014 at par

By Angela McDaniels

Tacoma, Wash., Aug. 5 - Lithia Motors, Inc. has repurchased all of its $85 million principal amount of 2.875% senior subordinated convertible notes due 2014, according to its 10-Q report for the second quarter filed with the Securities and Exchange Commission.

In the latest purchase, the company bought back $6.9 million of the convertibles at par in May.

The repurchases and redemptions are summarized in the table below.

Based in Medford, Ore., Lithia Motors and its subsidiaries operate automotive franchises.

Lithia Motors 2.875% convertibles purchases

Date Principal amount purchased Price

August 2008 $16.0 million 89.0

October 2008 $17.4 million 86.5

October 2008 $4.6 million 81.0

December 2008 $4.5 million 89.0

March 2009 $3.2 million 95.8

April 2009 $4.0 million 99.2

April 2009 $16.8 million 99.3

April 2009 $900,000 99.3

April 2009 $10.7 million 99.2

May 2009 $6.9 million Par

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