Group 1 Automotive Plans $1.25 Billion Senior Notes Offering

Group 1 Automotive, Inc. plans to offer $1.25 billion in senior notes. The company, which operates 249 dealerships across the U.S. and U.K., announced its intentions on Thursday.

The proceeds are intended to fund an acquisition and general corporate purposes. Details of the acquisition have not yet been disclosed, but it is expected to expand the company's operations.

Group 1 Automotive is a Fortune 250 automotive retailer. Its stock is traded on the New York Stock Exchange under the ticker symbol GPI.

The offering is subject to market conditions. Terms regarding the notes' maturity and interest rates have not yet been released.