AutoNation, Inc. Announces Pricing Of $350 Million Aggregate Principal Amount Of Senior Notes

AutoNation, Inc. announced the pricing of $350.0 million aggregate principal amount of senior unsecured notes due 2020 at 5.500%. The Company intends to use the net proceeds from the offering of the notes to reduce borrowings under the Company's existing revolving credit facility and to pay the related transaction fees and expenses. Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and SunTrust Robinson Humphrey Inc. will act as joint book-running managers of the debt offering, with Mitsubishi UFJ Securities (USA), Inc. and Mizuho Securities (USA) Inc. acting as co-lead managers and Comerica Securities, Inc., Fifth Third Securities, Inc., PNC Capital Markets LLC and U.S. Bancorp Investments, Inc. acting as co-managers.