11:44 AM EDT, 07/25/2024 (MT Newswires) -- Group 1 Automotive ( GPI ) early Thursday disclosed plans for a $500 million private placement of senior unsecured notes due 2030, subject to market conditions.

The automotive retail chain expects to use the net proceeds from the upcoming offering to repay prior borrowings made through its revolving credit facility in addition to general corporate purposes.

Group 1 shares recently were 1.6% higher during Thursday trading.

Price: 331.04, Change: +5.33, Percent Change: +1.63