BB&T Capital Markets Serves as Co-Manager for AutoNation’s $750 Million Two-Tranche Senior Notes Offering
On September 16, 2015, BB&T Capital Markets served as a co-manager for a $750 million two-tranche bond offering by AutoNation, Inc. The offering consisted of $300 million of 3.35% notes due 2021 and $450 million of 4.50% senior notes due 2025. Proceeds from the offering are being used to reduce borrowings under AutoNation’s credit facility and for general corporate purposes.
About the Companies
AutoNation, Inc., through its subsidiaries, is the largest automotive retailer in the United States. As of June 30, 2015, AutoNation owned and operated 293 new vehicle franchises from 237 stores located in the United States, predominantly in major metropolitan markets in the Sunbelt region. AutoNation’s stores sell 35 different new vehicle brands. The core brands of new vehicles that the company sells, representing approximately 95% of the new vehicles that it sold during the six months ended June 30, 2015, are manufactured by Toyota (including Lexus), Ford, Honda, Nissan, General Motors, Mercedes-Benz, FCA US (formerly Chrysler), BMW, and Volkswagen (including Audi and Porsche).
BB&T Capital Markets is the leading investment bank to the automotive aftermarket. We provide unparalleled industry expertise and transaction execution throughout the entire aftermarket channel - from suppliers and distributors to retailers and professional installers - in every segment of the $300 billion industry.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.