Asbury Automotive completes $600.6 million Shares of Common Stock and $1.4 billion Senior Notes offering

Client(s) Asbury Automotive Group, Inc.

Jones Day represented Asbury Automotive Group, Inc. (the "Company") in connection with (i) its underwritten public offering (the "Common Stock Offering") of 3,795,000 Shares of its Common Stock, par value $0.01 per share (the "Shares") resulting in gross proceeds of approximately $600.6 million and (ii) its offering of Senior Notes (the “Notes Offering”), consisting of $800 million aggregate principal amount of 4.625% Senior Notes due 2029 (the “2029 Notes”) and $600 million aggregate principal amount of 5.000% Senior Notes due 2032 (the “2032 Notes” and, together with the 2029 Notes, the “Notes”).

The Company intends to use the net proceeds from the Common Stock Offering and the Notes Offering, together with additional borrowings and cash on hand, to fund, if consummated, the acquisition of all of the equity interests of, and the real property related to, the businesses of the Larry H. Miller Dealerships and Total Care Auto, Powered by Landcar, and the payment of fees and expenses related to the foregoing, and to use the balance of the net proceeds, if any, for general corporate purposes, including other dealership acquisitions or capital investments.