Asbury Automotive Group Announces Pricing of Its Private Offering of Senior Notes Due 2029 and Senior Notes Due 2032

Nov 04, 2021

Asbury Automotive Group, Inc. (NYSE: ABG) (“Asbury”) announced today that it has priced its previously announced private placement of senior notes, consisting of $800 million aggregate principal amount of 4.625% Senior Notes due 2029 (the “2029 Notes”) and $600 million aggregate principal amount of 5.000% Senior Notes due 2032 (the “2032 Notes” and, together with the 2029 Notes, the “Notes”). Due to the exercise of the option to purchase additional shares in Asbury's concurrent common stock offering and the corresponding increase in proceeds, the aggregate principal amount of the Notes was decreased by $100 million from the total aggregate principal amount previously announced. The Notes were priced at par. The offering will be exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).

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