Lithia announces pricing of senior notes offering

|About: Lithia Motors, Inc. (LAD)|By:, SA News Editor

Lithia Motors (NYSE:LAD) priced its previously announced $300M in aggregate principal amount of its 5.25% senior notes due 2025 in a private offering.

The Private Offering is expected to close on July 24, subject to customary closing conditions.

The company intends to use the net proceeds for general corporate purposes, which may include funding acquisitions, capital expenditures and debt repayment.

Pending final application, all or a portion of the net proceeds of the Private Offering will be applied to reduce indebtedness, including under Lithia's used vehicle floor plan and revolving credit facilities.

Press Release