AutoNation announces pricing of $ 850 million aggregate principal amount of Senior Notes


FORT LAUDERDALE, Florida, July 26, 2021 / PRNewswire / – AutoNation, Inc. (NYSE: AN) (the “Company”) today announced the pricing of $ 400 million the aggregate principal amount of the 1.950% Senior Unsecured Notes due 2028 (the “2028 Notes”) and $ 450 million the aggregate principal amount of the 2.400% senior unsecured notes due 2031 (the “2031 Notes” and, together with the 2028 Notes, the “Notes”). The 2028 Notes will be issued at 99.805% of the Total Principal Amount, representing a yield to maturity of 1.980%, and the 2031 Notes will be issued at 99.735% of the Total Principal Amount, representing a yield to maturity of 2.430%. The offer is expected to close on July 29, 2021, subject to customary closing conditions.

The Company intends to use the net proceeds from the Note offering for general corporate purposes, which may include reducing borrowings under its commercial paper program and / or the facility. revolving credit under its credit agreement, share repurchases, strategic initiatives and acquisitions.

BofA Securities, Inc., JP Morgan Securities LLC, Truist Securities, Inc., Wells Fargo Securities, LLC, Mizuho Securities United States LLC and US Bancorp Investments, Inc. act as co-book managers of the Debt Offering.

The offering is being made only by way of a prospectus supplement and accompanying prospectus, which has been filed with the Securities and Exchange Commission (the “SEC”). Copies of these documents can be obtained from the SEC website, You can also request these documents by contacting BofA Securities, Inc., 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255, Attention: Prospectus Department (tel .: 800-294-1322, email: [email protected]), JP Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor (tel: pick up at 212-834-4533), Truist Securities, Inc., 303 Peachtree Street, Atlanta , GA 30308, Attention: Prospectus Department (tel: 800-685-4786, email: [email protected]), or Wells Fargo Securities, LLC, 608 2nd Avenue South, Minneapolis, MN 55402, Attention: WFS Customer Service (Tel: 800-645-3751, Email: [email protected]).

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities of the Company, and does not constitute an offer, solicitation or sale in any state or other jurisdiction in which such offer, solicitation or sale would be illegal.

About AutoNation, Inc.

AutoNation is America’s largest auto retailer. From June 30, 2021, AutoNation owned and operated over 300 locations coast to coast. AutoNation has sold more than 13 million vehicles, the first auto retailer to reach this milestone. Since 2013, AutoNation has raised more than $ 27 million to drive out cancer, raise awareness and support critical research through its DRIVE PINK initiative, which was officially labeled in 2015.

Forward-looking statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be considered, forward-looking statements. Words such as “anticipate”, “expect”, “intend”, “goals”, “targets”, “plans”, “believe”, “continue”, “could”, “can”, “Could” and variations of such words and similar expressions are intended to identify these forward-looking statements. Our forward-looking statements reflect our current expectations regarding future results and events, and they involve known and unknown risks, uncertainties and other factors which are difficult to predict and may cause our actual results, performance or achievements to be materially. different from any future results, performances and achievements expressed or implied by these statements. These risks, uncertainties and other factors include, among others: current market demand for these types of securities and the Company’s securities; our ability to consume the supply; economic conditions, including changes in consumer demand, unemployment rates, interest rates, fuel prices and tariffs; our ability to successfully implement our strategic initiatives, partnerships and investments, including the planned expansion of our AutoNation United States stores; our ability to identify, acquire and construct suitable locations in a timely manner; our ability to acquire and successfully integrate new franchises; restrictions imposed by automakers and our ability to obtain manufacturer approval for acquisitions; our ability to successfully develop our digital and online capabilities and other brand extension strategies; supply chain disruptions and inventory availability; our ability to maintain and improve our retail brands and reputation and to attract consumers to our own digital channels; our ability to achieve expected sales volumes on schedule; new and used vehicle margins; our ability to successfully implement and maintain expenditure controls; the success and financial viability and the incentive and marketing programs of the manufacturers and distributors of vehicles with which we hold franchises; the response of federal, state and local governments and other third parties to the COVID-19 pandemic and the economic impacts thereof; natural disasters and other adverse weather events; the resolution of legal and administrative proceedings; regulatory factors affecting our business, including fuel economy requirements; announcing safety recalls; factors affecting our goodwill and other intangible asset impairment tests; and other factors described in our press releases and documents filed under securities laws, including, but not limited to, our annual reports on Form 10-K, our quarterly reports on Form 10-Q and our current reports on form 8-K. The forward-looking statements contained in this press release speak only as of the date of this press release, and we assume no obligation to update such forward-looking statements to reflect subsequent events or circumstances.

SOURCE AutoNation, Inc.

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