- AutoNation Inc AN has priced the $700 million of senior unsecured notes due 2032 at 3.850%.
- The notes will be issued at 99.835% of the aggregate principal amount, representing a yield to maturity of 3.870%.
- The offering is expected to close on February 28, 2022, subject to customary closing conditions.
- AutoNation intends to use the net proceeds from the sale of the notes for general corporate purposes, strategic initiatives, acquisitions, and share repurchases.
- Price Action: AN shares closed lower by 1.08% at $104.20 on Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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