Shearman And Sterling

News June 15, 2021

Penske Automotive Group’s $550 Million Senior Subordinated Notes Offering

Shearman & Sterling advised BofA Securities, as representative of the several underwriters, in connection with Penske Automotive Group’s offering of $500 million aggregate principal amount of its 3.75 percent Senior Subordinated Notes due 2029.

Penske, headquartered in Bloomfield Hills, Michigan, is an international transportation services company that operates automotive and commercial truck dealerships principally in the United States, the United Kingdom, Canada, and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems and related parts and services principally in Australia and New Zealand. Penske is a member of the Fortune 500 and Russell 1000 indexes and is ranked among the World's Most Admired Companies by Fortune Magazine.

The Team