Asbury Automotive Group entered into a second amended and restated $1.3 billion, five-year syndicated senior credit facility. Asbury’s new senior credit facility replaces its previously amended and restated facility, and provides additional borrowing availability, increased financial flexibility and an extended maturity date.
The new vehicle floor plan interest rate will remain at one-month LIBOR+125 basis points and the used vehicle floor plan interest will remain at one-month LIBOR+150 basis points.
