Group 1 Automotive Enters Material Definitive Agreement

TL;DR

GPI just signed a big deal, likely involving debt or a new financial obligation.

AI Summary

On March 25, 2024, Group 1 Automotive, Inc. entered into a material definitive agreement related to a direct financial obligation. The company, incorporated in Delaware with its principal executive offices in Houston, Texas, filed this 8-K report on March 28, 2024.

Why It Matters

This filing indicates a significant financial commitment or obligation for Group 1 Automotive, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and direct financial obligations can introduce financial risks and obligations that need careful monitoring.

Key Players & Entities

• Group 1 Automotive, Inc. (company) — Registrant
• March 25, 2024 (date) — Date of earliest event reported
• March 28, 2024 (date) — Date of report
• Delaware (jurisdiction) — State of incorporation
• Houston, Texas (location) — Principal executive offices

FAQ

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share GPI New York Stock Exchange
• $84.5 million — ed under the GM Floorplan Facility from $84.5 million to $338.1 million. The description of
• $338.1 million — loorplan Facility from $84.5 million to $338.1 million. The description of the Addendum set f

Filing Documents

• gpi-20240325.htm (8-K) — 29KB
• exhibit101-32524.htm (EX-10.1) — 124KB
• image_0a.jpg (GRAPHIC) — 2KB
• 0001031203-24-000020.txt ( ) — 288KB
• gpi-20240325.xsd (EX-101.SCH) — 2KB
• gpi-20240325_lab.xml (EX-101.LAB) — 22KB
• gpi-20240325_pre.xml (EX-101.PRE) — 13KB
• gpi-20240325_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. As previously disclosed in a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission, on December 11, 2023, GPI TX-G, Inc., GPI TX-GII, Inc. and GPI TX-GIII, Inc., each a subsidiary of Group 1 Automotive, Inc. (the "Company"), entered into a master loan agreement effective December 8, 2023 (the "GM Floorplan Facility") with AmeriCredit Financial Services, Inc., doing business as GM Financial, providing a discretionary floorplan credit facility for new motor vehicles, demonstrator vehicles and courtesy vehicles manufactured by divisions of General Motors Corporation ("GM"). Effective March 25, 2024, twelve additional subsidiaries of the Company, BOB HOWARD AUTOMOTIVE-EAST, INC., BOB HOWARD CHEVROLET, INC., GPI FL-G, LLC, GPI GA-CGM, LLC, GPI MA-GM, INC., GPI NY-GMII, LLC, GPI TX-EPGM, INC., GPI TX-HGMII, INC., GPI TX-HGMIV, INC., HOWARD-GM, INC., LUBBOCK MOTORS-GM, INC. and MAXWELL-GMII, INC., entered into an Additional Borrower Addendum to Master Loan Agreement (the " Addendum " ) joining the GM Floorplan Facility as additional borrowers and increasing the maximum amount of floorplan financing indebtedness that may be incurred under the GM Floorplan Facility from $84.5 million to $338.1 million. The description of the Addendum set forth above does not purport to be complete and is qualified in its entirety by reference to the provisions of the Addendum, which is filed hereto as Exhibit 10.1 and is incorporated herein by reference. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Additional Borrower Addendum to Master Loan Agreement dated effective March 25, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

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, thereunto duly authorized. Group 1 Automotive, Inc. Date: March 28, 2024 By: /s/ Gillian A. Hobson Name: Gillian A. Hobson Title: Senior Vice President