Group 1 Automotive Inc., a prominent Fortune 250 automotive retailer, has announced a significant amendment to its existing corporate financing agreement. The company has upsized its revolving syndicated credit facility by $1.0 billion, bringing the total to $3.5 billion. The maturity of the facility has been extended to May 30, 2030, with the option to expand it further to $4.5 billion, pending lender approval. This facility is supported by 18 lending parties, including six manufacturer-affiliated finance companies and 12 commercial banks, with key players such as BMW Financial Services, Toyota Motor Credit, and Bank of America involved. This move, according to Group 1's Senior Vice President and CFO Daniel McHenry, enhances the company's financial flexibility and access to capital, reflecting strong lender relationships.
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