Group 1 Auto Says VW Credit Joins Existing Syndicated Credit Facility
Group 1 Automotive, Inc.(NYSE: GPI),a Fortune 500 automotive retailer, announced today that VW Credit, Inc. has signed on as a partner to its existing $1.35 billion revolving credit facility that expires in June 2016.
The lenders in the syndicated facility now consist of five captive finance companies – Toyota Motor Credit Corporation; BMW Financial Services NA, LLC; Mercedes-Benz Financial Service USA LLC; Nissan Motor Acceptance Corporation and VW Credit, Inc. – and 17 commercial banks. The commercial banks are JPMorgan Chase Bank, N.A.; Bank of America, N.A.; Comerica Bank; U.S. Bank, N.A.; Wells Fargo Bank, N.A.; Capital One, N.A.; Compass Bank; Key Bank National Association; Mass Mutual Asset Finance; Bank of the West; Flagstar Bank; Amegy Bank, N.A.; Barclays Bank PLC; Motors Insurance Corporation; Sovereign Bank; BOKF, NA dba Bank of Oklahoma and Amarillo National Bank.
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