58 Group 1 Automotive, a Fortune 300 automotive retailer with 203 dealerships in the U.S. and U.K., announced the expansion of its revolving syndicated credit facility by $500 million, bringing the total to $2.5 billion. The facility, which includes 20 financial institutions, will expire in March 2027 and has the potential to increase to $3.0 billion. The facility’s lenders comprise six manufacturer-affiliated finance companies and 14 commercial banks. The manufacturer-affiliated finance companies are Mercedes-Benz Financial Services USA LLC, Toyota Motor Credit Corporation, BMW Financial Services NA, LLC, American Honda Finance Corporation, VW Credit, Inc., and Hyundai Capital America, Inc. The commercial banks involved include U.S. Bank National Association, Bank of America, N.A., JPMorgan Chase Bank, N.A., Wells Fargo Bank, National Association, PNC Bank, National Association, Comerica Bank, Truist Bank, TD Bank, N.A., Ally Bank, NYCB Specialty Finance Company, LLC, Barclays Bank PLC, Zions Bancorporation, N.A. (dba Amegy Bank), Santander Bank, N.A., and BOKF, NA (dba Bank of Oklahoma). You Might Be Interested In U.S.-Angola Economic Partnership: Navigating Prosperity and Strategic Wealth Initiatives Genworth Reveals 2023 Cost of Care Survey Findings: Two Decades of Monitoring Long-Term Care Expenses Peso Expected to Maintain Strength as BSP Adopts Hawkish Stance Warner Bros. Discovery names Mark Thompson CEO and chairman of CNN Amazon using monopoly power to hurt consumers, rivals and sellers, FTC claims CEOs of Exxon and Chevron Advocate for Clear Rules Regarding US Clean Energy Subsidies
