UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): |
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction | (Commission | (I.R.S. Employer | ||
of incorporation) | File Number) | Identification No.) | ||
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Not Applicable | ||||
Former name or former address, if changed since last report | ||||
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On November 20, 2020, we exercised our right to redeem our $300 million 5.375% senior subordinated notes due 2024 (the “2024 Notes”) on December 28, 2020 (the "Redemption Date"), at a redemption price equal to 101.792% of the principal amount thereof, together with accrued and unpaid interest thereon, to the Redemption Date. We intend to fund the redemption with working capital and availability under our U.S. revolving credit agreement. The Bank of New York Mellon Trust Company, N.A., as trustee and paying agent, distributed a notice of redemption to all registered holders of the 2024 Notes today.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Penske Automotive Group, Inc. | ||||
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November 20, 2020 |
| By: |
| /s/ Shane M. Spradlin |
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| Name: Shane M. Spradlin |
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| Title: Executive Vice President |
Document and Entity Information |
Nov. 20, 2020 |
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| Document and Entity Information [Abstract] | |
| Document Type | 8-K |
| Document Period End Date | Nov. 20, 2020 |
| Entity File Number | 1-12297 |
| Entity Registrant Name | Penske Automotive Group, Inc. |
| Entity Incorporation, State or Country Code | DE |
| Entity Tax Identification Number | 22-3086739 |
| Entity Address, Address Line One | 2555 Telegraph Road |
| Entity Address, City or Town | Bloomfield Hills |
| Entity Address, State or Province | MI |
| Entity Address, Postal Zip Code | 48302 |
| City Area Code | 248 |
| Local Phone Number | 648-2500 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Voting Common Stock, par value $0.0001 per share |
| Trading Symbol | PAG |
| Security Exchange Name | NYSE |
| Entity Emerging Growth Company | false |
| Entity Central Index Key | 0001019849 |
| Amendment Flag | false |