Lithia Motors, Inc. announced on February 23, 2024, the company entered into a fifth amendment (the Fifth Amendment) to its Fourth Amended and Restated Loan Agreement (the Loan Agreement) with U.S. Bank National Association as agent for the lenders, and each of the lenders party to the Loan Agreement, as lenders (collectively, the Lenders). Among other changes, the Fifth Amendment increases the total financing commitment from $4.69 billion to $6.00 billion, which may be further expanded, subject to Lender approval and the satisfaction of other conditions, up to a total of $6.50 billion. This amendment extends the expiration date of the credit facility to February 23, 2029 (additionally includes 1-year extension options available annually subject to lender threshold consent and the satisfaction of other conditions).
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