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Penske Automotive Group, Inc.
PAG announced that it intends to offer $400.0 million aggregate principal amount of fixed rate Senior Subordinated Notes due 2022 (the "2022 Notes") in a private offering to qualified institutional buyers in the United States pursuant to Rule 144A, and outside the United States pursuant to Regulation S, under the Securities Act of 1933 (the "Securities Act"), as amended.
The Company intends to use the net proceeds of this offering to purchase any and all of the Company's $375.0 million in principal amount of 7.75% Senior Subordinated Notes due 2016 (the "2016 Notes") tendered in connection with the Company's concurrent tender offer for the 2016 Notes and consent
solicitation, and to pay fees and expenses in connection with the offering.
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