Research Reports

Summary

Lithia Motors, Inc. entered into the Seventh Amendment to its Fourth Amended and Restated Loan Agreement on February 27, 2026, extending the credit facility expiration to February 27, 2031 with 1-year extension options, converting floorplan facilities to VIN-specific reporting, reallocating commitments totaling $6,500,000,000, and removing the Simple SOFR Adjustment.

Key takeaways

Entered Seventh Amendment on February 27, 2026 with U.S. Bank National Association as Agent and lenders
Extended credit facility expiration to February 27, 2031 with annual 1-year extension options subject to conditions
Converted Used Vehicle and Service Loaner Floorplan to VIN-specific reporting upon Company election
Post-conversion commitments: New Vehicle Floorplan $2,700,000,000; Used Vehicle Floorplan $1,250,000,000; Service Loaner $150,000,000; Revolving Line $2,400,000,000
TRUIST BANK and NISSAN MOTOR ACCEPTANCE COMPANY LLC are Exiting Lenders receiving payoff of outstanding loans
Used Vehicle Floorplan Margin set to 1.20% per annum
Exhibit 10.1 is the Seventh Amendment