DULUTH — Asbury Automotive Group Inc. announced that it has entered into a new $900 million, five-year syndicated credit facility with nine financial institutions and five manufacturer-affiliated finance companies.

The new syndicated credit facilities, which mature in October 2016, provide for up to $625 million for new-vehicle inventory floorplan financing, up to $100 million for used-vehicle inventory floorplan financing and up to $175 million for general corporate purposes, according to Asbury. The facilities also provide for the expansion of the availability thereunder, up to a total availability of $1.175 billion, reported F&I and Showroom magazine.

"The new credit facility provides the operational and strategic flexibility we will need for the next five years," said Scott J. Krenz, Asbury's senior vice president and CFO. "We are extremely pleased with the support from of our banking partners and look forward to continuing to build on those relationships."

The syndication was arranged through BofA Merrill Lynch, who also serves as the administrative agent. JPMorgan Chase Bank, N.A., and Wells Fargo Bank serve as co-syndication agents.

Lenders in the new syndicated credit facilities include American Honda Finance Corporation, BMW Group Financial Services NA, LLC, Mercedes-Benz Financial Services USA LLC, Nissan Motor Acceptance Corporation and Toyota Motor Credit Corporation. The nine commercial banks and other lending institutions in the credit facilities include BofA Merrill Lynch, N.A., Bank of the West, Comerica Bank, Deutsche Bank Trust Company Americas, Flagstar Bank, FSB, JPMorgan Chase Bank, N.A., Mass Mutual Asset Finance LLC, U.S. Bank National Association and Wells Fargo Bank, N.A.