/PRNewswire/ Penske Automotive Group, Inc., (NYSE:PAG) a diversified international transportation services company, today announced that it intends to offer.
Penske Automotive Group Announces Pricing of $500 Million Senior Subordinated Notes
News provided by
Share this article
Share this article
BLOOMFIELD HILLS, Mich., May 25, 2021 /PRNewswire/ Penske Automotive Group, Inc., (NYSE: PAG) a diversified international transportation services company, today announced the pricing of $500 million aggregate principal amount of 3.75% Senior Subordinated Notes due 2029 (the 2029 Notes ). The sale of the 2029 Notes, which is subject to customary closing conditions, is expected to be completed on June 15, 2021.
The company intends to use the net proceeds of this offering to redeem its $500 million 5.5% Senior Subordinated Notes due 2026 on June 24, 2021. In the interim, we intend to repay amounts outstanding under our U.S. credit agreement, to repay various floor plan debt, and for general corporate purposes.
Message :
Required fields
BLOOMFIELD HILLS, Mich., May 25, 2021 /PRNewswire/ Penske Automotive Group, Inc., (NYSE: PAG) a diversified international transportation services company, today announced the pricing of $500 million aggregate principal amount of 3.75% Senior Subordinated Notes due 2029 (the 2029 Notes ). The sale of the 2029 Notes, which is subject to customary closing conditions, is expected to be completed on June 15, 2021.
The company intends to use the net proceeds of this offering to redeem its $500 million 5.5% Senior Subordinated Notes due 2026 on June 24, 2021. In the interim, we intend to repay amounts outstanding under our U.S. credit agreement, to repay various floor plan debt, and for general corporate purposes.
Penske Automotive Group Announces Pricing of $500 Million Senior Subordinated Notes prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Penske Automotive Group Inc. has named a new CFO.
The retailer has promoted Shelley Hulgrave, a more than 14-year Penske employee, to replace J.D. Carlson, who is retiring after holding the position since June 2015. The moves are effective June 1.
Hulgrave, 42, has been the retailer s senior vice president and corporate controller since February 2020. She was promoted to that position after serving as Penske s vice president and corporate controller since June 2015.
She joined the company in October 2006 as a corporate accounting manager, working with accounting teams in the U.S., Europe and Australia. Before working for Penske, Hulgrave held positions with DaimlerChrysler Financial and Ernst & Young.