HOUSTON , July 7, 2014 /PRNewswire/ – Group 1 Automotive, Inc. (NYSE: GPI) (the “Company”), an international, Fortune 500 automotive retailer, has given notice to holders of a 2.25% Convertible Senior Notes due 2036 (CUSIP No. 398905AD17) (the “Notes”) that it will redeem all of a superb Notes on September 4, 2014 (the “Redemption Date”) during a emancipation cost equal to 100% of a total principal volume of a Notes and accrued, though delinquent interest, if any, to, though excluding, a Redemption Date. There are now $182,800,000 in total principal volume of Notes outstanding.
Holders might modify a Notes during any time before to 5:00 p.m. on August 29, 2014 , during a acclimatisation rate of 16.8716 shares of a Company’s common batch per $1,000 principal volume of Notes with a associated Observation Period (as tangible in a indent ruling a Notes) commencement on and including July 28, 2014 and finale on and including August 29, 2014 . Holders who wish to modify Notes contingency prove a mandate set onward in Article 12 of a indent ruling a Notes. In a eventuality that holders elect to modify their Notes in tie with a redemption, a Company will prove a acclimatisation obligations to holders by profitable money equal to a principal volume of a Notes and delivering shares of common batch in allotment of any and all acclimatisation obligations in additional of a principal volume (provided that a Company will compensate money in lieu of arising fractional shares).
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In tie with a redemption, we intend to enter into agreements with a counterparties to a formerly disclosed automobile note sidestep and aver exchange entered into in 2006 parallel with a execution of a indent ruling a records and a distribution of a Notes pursuant to that we would cancel or differently tell in partial or in full certain of a automobile note hedges and warrants, though there can be no declaration that we will do so.
The Company’s notice to holders naming a terms, conditions and procedures for a emancipation and/or acclimatisation is accessible by The Depository Trust Company and a Trustee, Wells Fargo Bank, National Association.
Wells Fargo Bank, National Association, in their ability as possibly profitable representative for a emancipation or acclimatisation agent, can be contacted during one of a following addresses, as applicable:
This press recover is for informational functions usually and does not consecrate a notice of emancipation of a Notes.
About Group 1 Automotive, Inc.
Group 1 owns and operates 152 automotive dealerships, 193 franchises, and 37 collision centers in the United States , a United Kingdom and Brazil that offer 34 brands of automobiles. Through a dealerships, a Company sells new and used cars and light trucks; arranges associated car financing, use and word contracts; provides automotive upkeep and correct services; and sells car parts.
Group 1 Automotive can be reached on a Internet during www.group1auto.com.
Manager, Investor Relations
Group 1 Automotive, Inc.
713-647-5741 | [email protected]
V.P. Manufacturer Relations, Financial Services and Public Affairs
Group 1 Automotive, Inc.
713-647-5770 | [email protected]
Pierpont Communications, Inc.
713-627-2223 | [email protected]
SOURCE Group 1 Automotive, Inc.