Dealer Tire Financial, LLC Announces Offering of Senior Notes
Dealer Tire Financial, LLC (the “Company”), a leading distributor of tires and a provider of value-added consulting services to automotive dealerships and automobile original equipment manufacturers (“OEMs”), primarily in the United States, today announced that it intends to offer $500 million in aggregate principal amount of senior notes due 2031 (the “Notes”) in a private offering (the “Offering”), subject to market and other conditions. The Notes will be unsecured senior obligations of the Company and will be guaranteed by certain of the Company’s domestic subsidiaries.
The Company intends to use the net proceeds from the proposed Offering, together with cash on hand, to fund the redemption of all of the Company’s 8.000% Senior Notes due 2028 (the “Existing Notes”) outstanding and pay fees and expenses in connection with the foregoing.
The Notes and related guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), any state securities laws or the securities laws of any other jurisdiction, and may not be offered or sold in the United States, or for the benefit of U.S. persons, except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities or blue sky laws. Accordingly, the Notes and related guarantees are being offered only to persons reasonably believed to be “qualified institutional buyers,” as that term is defined under Rule 144A of the Securities Act, or outside the United States to non-“U.S. persons” in accordance with Regulation S under the Securities Act.
