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Lithia Motors Inc completes new $1.0 bln credit agreement

Wednesday, 18 Dec 2013 05:03pm EST 

Lithia Motors Inc:Says it has completed a $1.0 billion five-year revolving syndicated credit facility with 13 institutions that will expire in Dec 2018.Says the facility can be expanded to $1.25 billion in total availability.Says the revolving facility will provide $700 million for new vehicle inventory floorplan financing, $150 million for used vehicle inventory floorplan financing and $150 million for general corporate purposes including working capital and acquisitions.