Company: GPI
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001031203-25-000049
Chunk: 125

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 2
Chunk 125
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.0 Acquisition Line (2) 1,750.0 421.8 738.6 Total revolving credit facility3,500.0 1,388.8 1,521.6 FMCC Facility (3)200.0 153.2 46.8 GM Financial Facility (4)348.1 173.6 174.5 Total U.S. credit facilities (5) $4,048.1 $1,715.7 $1,742.8 

(1) The available balance at June 30, 2025, includes $321.0 million of immediately available funds. The remaining available balance can be used for vehicle inventory financing. 

(2) The outstanding balance of $421.8 million is related to outstanding letters of credit of $11.8 million and $410.0 million in USD borrowings. The available borrowings may be limited from time to time, based on certain debt covenant calculations, and as a result, the outstanding balance plus available borrowings may not equal the total commitment.

(3) The available balance at June 30, 2025, includes no immediately available funds. The remaining available balance can be used for Ford new vehicle inventory financing.

(4) The available balance at June 30, 2025, includes no immediately available funds. The remaining available balance can be used for General Motors new and loaner vehicle inventory financing.

(5) The outstanding balance excludes $651.1 million of borrowings with manufacturer-affiliates and third-party financial institutions for foreign and loaner vehicle financing not associated with any of our U.S. credit facilities.

We have other credit facilities in the U.S. and the U.K. with third-party financial institutions, most of which are affiliated with the automobile manufacturers that provide financing for portions of our new, used and rental vehicle inventories. In addition, we have outstanding debt instruments, including our 4.00% and 6.375% Senior Notes, as well as real estate related and other debt instruments. Refer to Note 9. Debt within our Notes to Condensed Consolidated Financial Statements for further information. 

Covenants

Our Revolving Credit Facility, indentures governing our 4.00% and 6.375% Senior Notes and certain mortgage term loans contain customary financial and operating covenants that place restrictions on us, including our ability to incur additional indebtedness, create liens or to sell or otherwise dispose