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Stock Market & Financial Investment News

News Breaks
December 4, 2012
17:29 EDTABGAsbury Automotive approves $50M repurchase program
Asbury Automotive Group announced that its board of directors has authorized the repurchase of up to $50M of the Company's common stock. The repurchases may be made in open market transactions. The Company's new stock repurchase program replaces, effective January 1, 2013, its expiring $47.4M program authorized in December 2011, under which the Company has repurchased $21M of shares since January.
News For ABG From The Last 14 Days
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November 19, 2014
08:37 EDTABGAsbury Automotive initiates $400M private offering of senior subordinated notes
Asbury Automotive commenced an offering of $400.0M aggregate principal amount of senior subordinated notes due 2024 in a private placement that is exempt from the registration requirements of the Securities Act of 1933. The 2024 Notes will be guaranteed by all of the company's existing subsidiaries and certain future subsidiaries. The company intends to use the net proceeds from the offering of 2024 Notes to (i) purchase any and all of the company's outstanding 8.375% Senior Subordinated Notes due 2020 that are tendered pursuant to the Company's cash tender offer and consent solicitation for any and all 2020 Notes commenced on November 19, and pay the related consent fees in connection with the Tender Offer and (ii) pay all related transaction fees and expenses.

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