Exhibit 25.1
SECURITIESANDEXCHANGECOMMISSION
Washington, D.C. 20549
FORM T-1
STATEMENT OF ELIGIBILITY UNDER
THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
| ☐ | Check if an Application to Determine Eligibility of a Trustee Pursuant to Section 305(b)(2) |
U.S. BANK NATIONAL ASSOCIATION
(Exact name of Trustee as specified in its charter)
31-0841368
I.R.S. Employer Identification No.
800 Nicollet Mall Minneapolis, Minnesota | 55402 | |
| (Address of principal executive offices) | (Zip Code) |
David Ferrell
U.S. Bank National Association
1049 West Peachtree Street, NE
Suite 1050
Atlanta, GA 30309
(404) 898-8821
(Name, address and telephone number of agent for service)
Asbury Automotive Group, Inc.
(Issuer with respect to the Securities)
| Delaware | 01-0609375 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
2905 Premiere Parkway NW Duluth, Georgia | 30097 | |
| (Address of Principal Executive Offices) | (Zip Code) |
TABLE OF ADDITIONAL OBLIGORS
Exact Name of Obligor | State of Incorporation or Organization | IRS Employer Identification Number | ||
AF Motors, L.L.C. | Delaware | 59-3604214 | ||
ANL, L.P. | Delaware | 59-3503188 | ||
Arkansas Automotive Services, L.L.C. | Delaware | 27-1386071 | ||
Asbury AR Niss L.L.C. | Delaware | 84-1666361 | ||
Asbury Arlington MB, LLC | Delaware | 13-3997031 | ||
Asbury Atlanta AC L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta AU L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta BM L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta CHEV, LLC | Delaware | 26-1923764 | ||
Asbury Atlanta Chevrolet L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta Ford, LLC | Delaware | 38-3940402 | ||
Asbury Atlanta Hon L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta Hund L.L.C. | Delaware | 32-0410122 | ||
Asbury Atlanta Inf L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta Infiniti L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta Jaguar L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta K L.L.C. | Delaware | 80-0921323 | ||
Asbury Atlanta Lex L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta Nis II, LLC | Delaware | 58-2241119 | ||
Asbury Atlanta Nis L.L.C. | Delaware | 58-2241119 | ||
Asbury Atlanta Toy 2 L.L.C. | Delaware | 37-1732856 | ||
Asbury Atlanta Toy L.L.C. | Delaware | 26-2192047 | ||
Asbury Atlanta VB L.L.C. | Delaware | 46-1138538 | ||
Asbury Atlanta VL L.L.C. | Delaware | 58-2241119 | ||
Asbury Austin JLR, LLC | Delaware | 13-3997031 | ||
Asbury Automotive Arkansas Dealership Holdings L.L.C. | Delaware | 71-0817515 | ||
Asbury Automotive Arkansas L.L.C. | Delaware | 71-0817514 | ||
Asbury Automotive Atlanta II L.L.C. | Delaware | 26-1923764 | ||
Asbury Automotive Atlanta L.L.C. | Delaware | 58-2241119 | ||
Asbury Automotive Brandon, L.P. | Delaware | 59-3584655 | ||
Asbury Automotive Central Florida, L.L.C. | Delaware | 59-3580818 | ||
Asbury Automotive Deland, L.L.C. | Delaware | 59-3604210 | ||
Asbury Automotive Fresno L.L.C. | Delaware | 03-0508496 | ||
Asbury Automotive Group L.L.C. | Delaware | 23-2790555 | ||
Asbury Automotive Jacksonville GP L.L.C. | Delaware | 59-3512660 | ||
Asbury Automotive Jacksonville, L.P. | Delaware | 59-3512662 | ||
Asbury Automotive Management L.L.C. | Delaware | 23-2790555 | ||
Asbury Automotive Mississippi L.L.C. | Delaware | 64-0924573 | ||
Asbury Automotive North Carolina Dealership Holdings L.L.C. | Delaware | 56-2106587 | ||
Asbury Automotive North Carolina L.L.C. | Delaware | 52-2106838 | ||
Asbury Automotive North Carolina Management L.L.C. | Delaware | 52-2106838 | ||
Asbury Automotive North Carolina Real Estate Holdings L.L.C. | Delaware | 23-2983952 | ||
Asbury Automotive Oregon L.L.C. | Delaware | 52-2106837 | ||
Asbury Automotive Southern California L.L.C. | Delaware | 16-1676796 | ||
Asbury Automotive St. Louis II L.L.C. | Delaware | 26-2753770 |
2
Asbury Automotive St. Louis, L.L.C. | Delaware | 43-1767192 | ||
Asbury Automotive Tampa GP L.L.C. | Delaware | 13-3990508 | ||
Asbury Automotive Tampa, L.P. | Delaware | 13-3990509 | ||
Asbury Automotive Texas L.L.C. | Delaware | 13-3997031 | ||
Asbury Automotive Texas Real Estate Holdings L.L.C. | Delaware | 75-2760935 | ||
Asbury Automotive West, LLC | Delaware | 23-2790555 | ||
Asbury CH Motors L.L.C. | Delaware | 59-3185442 | ||
Asbury CO CDJR, LLC | Delaware | 23-2790555 | ||
Asbury CO SUB, LLC | Delaware | 23-2790555 | ||
Asbury Dallas BEN, LLC | Delaware | 13-3997031 | ||
Asbury Dallas KAR, LLC | Delaware | 13-3997031 | ||
Asbury Dallas MAS, LLC | Delaware | 13-3997031 | ||
Asbury Dallas MB, LLC | Delaware | 13-3997031 | ||
Asbury Dallas MCL, LLC | Delaware | 13-3997031 | ||
Asbury Dallas POR, LLC | Delaware | 13-3997031 | ||
Asbury Dallas RR, LLC | Delaware | 13-3997031 | ||
Asbury Dallas VOL, LLC | Delaware | 13-3997031 | ||
Asbury Deland Hund, LLC | Delaware | 46-5171161 | ||
Asbury Deland Imports 2, L.L.C. | Delaware | 59-3629420 | ||
Asbury DFW JLR, LLC | Delaware | 13-3997031 | ||
Asbury Fort Worth MB, LLC | Delaware | 13-3997031 | ||
Asbury Fresno Imports L.L.C. | Delaware | 03-0508500 | ||
Asbury Ft. Worth Ford, LLC | Delaware | 38-3942921 | ||
Asbury Georgia TOY, LLC | Delaware | 26-1923764 | ||
Asbury Grapevine LEX, LLC | Delaware | 13-3997031 | ||
Asbury IN CBG, LLC | Delaware | 43-1767192 | ||
Asbury IN CDJ, LLC | Delaware | 43-1767192 | ||
Asbury IN CHEV, LLC | Delaware | 43-1767192 | ||
Asbury IN FORD, LLC | Delaware | 43-1767192 | ||
Asbury IN HON, LLC | Delaware | 43-1767192 | ||
Asbury IN TOY, LLC | Delaware | 43-1767192 | ||
Asbury Indy Chev, LLC | Delaware | 43-1767192 | ||
Asbury Jax AC, LLC | Delaware | 45-0551011 | ||
Asbury Jax Ford, LLC | Delaware | 47-3473001 | ||
Asbury Jax Holdings, L.P. | Delaware | 59-3516633 | ||
Asbury Jax Hon L.L.C. | Delaware | 02-0811016 | ||
Asbury Jax K L.L.C. | Delaware | 36-4572826 | ||
Asbury Jax Management L.L.C. | Delaware | 59-3503187 | ||
Asbury Jax VW L.L.C. | Delaware | 02-0811020 | ||
Asbury MS CHEV L.L.C. | Delaware | 06-1749057 | ||
Asbury MS Gray-Daniels L.L.C. | Delaware | 64-0939974 | ||
Asbury No Cal Niss L.L.C. | Delaware | 05-0605055 | ||
Asbury Plano LEX, LLC | Delaware | 13-3997031 | ||
Asbury Sacramento Imports L.L.C. | Delaware | 33-1080505 | ||
Asbury SC JPV L.L.C. | Delaware | 27-3565233 | ||
Asbury SC LEX L.L.C. | Delaware | 27-3565101 | ||
Asbury SC Toy L.L.C. | Delaware | 27-3564690 | ||
Asbury So Cal DC L.L.C. | Delaware | 33-1080498 | ||
Asbury So Cal Hon L.L.C. | Delaware | 33-1080502 | ||
Asbury So Cal Niss L.L.C. | Delaware | 59-3781893 | ||
Asbury South Carolina Real Estate Holdings L.L.C. | Delaware | 27-4085056 | ||
Asbury St. Louis Cadillac L.L.C. | Delaware | 43-1767192 |
3
Asbury St. Louis FSKR, L.L.C. | Delaware | 27-1076730 | ||
Asbury St. Louis Lex L.L.C. | Delaware | 43-1767192 | ||
Asbury St. Louis LR L.L.C. | Delaware | 43-1799300 | ||
Asbury St. Louis M L.L.C. | Delaware | 27-3214624 | ||
Asbury Tampa Management L.L.C. | Delaware | 59-3512657 | ||
Asbury Texas D FSKR, L.L.C. | Delaware | 27-1076393 | ||
Asbury Texas H FSKR, L.L.C. | Delaware | 27-1076640 | ||
Asbury TX Auction, LLC | Delaware | 13-3997031 | ||
Asbury-Deland Imports, L.L.C. | Delaware | 59-3604213 | ||
Atlanta Real Estate Holdings L.L.C. | Delaware | 58-2241119 | ||
Avenues Motors, Ltd. | Florida | 59-3381433 | ||
Bayway Financial Services, L.P. | Delaware | 59-3503190 | ||
BFP Motors L.L.C. | Delaware | 30-0217335 | ||
C & O Properties, Ltd. | Florida | 59-2495022 | ||
Camco Finance II L.L.C. | Delaware | 52-2106838 | ||
CFP Motors L.L.C. | Delaware | 65-0414571 | ||
CH Motors L.L.C. | Delaware | 59-3185442 | ||
CHO Partnership, Ltd. | Florida | 59-3041549 | ||
CK Chevrolet L.L.C. | Delaware | 59-3580820 | ||
CK Motors LLC | Delaware | 59-3580825 | ||
CN Motors L.L.C. | Delaware | 59-3185448 | ||
Coggin Automotive Corp. | Florida | 59-1285803 | ||
Coggin Cars L.L.C. | Delaware | 59-3624906 | ||
Coggin Chevrolet L.L.C. | Delaware | 59-3624905 | ||
Coggin Management, L.P. | Delaware | 59-3503191 | ||
CP-GMC Motors L.L.C. | Delaware | 59-3185453 | ||
Crown Acura/Nissan, LLC | North Carolina | 56-1975265 | ||
Crown CHH L.L.C. | Delaware | 52-2106838 | ||
Crown CHO L.L.C. | Delaware | 84-1617218 | ||
Crown CHV L.L.C. | Delaware | 52-2106838 | ||
Crown FDO L.L.C. | Delaware | 04-3623132 | ||
Crown FFO Holdings L.L.C. | Delaware | 56-2182741 | ||
Crown FFO L.L.C. | Delaware | 56-2165412 | ||
Crown GAC L.L.C. | Delaware | 52-2106838 | ||
Crown GBM L.L.C. | Delaware | 52-2106838 | ||
Crown GCA L.L.C. | Delaware | 14-1854150 | ||
Crown GDO L.L.C. | Delaware | 52-2106838 | ||
Crown GHO L.L.C. | Delaware | 52-2106838 | ||
Crown GNI L.L.C. | Delaware | 52-2106838 | ||
Crown GPG L.L.C. | Delaware | 52-2106838 | ||
Crown GVO L.L.C. | Delaware | 52-2106838 | ||
Crown Honda, LLC | North Carolina | 56-1975264 | ||
Crown Motorcar Company L.L.C. | Delaware | 62-1860414 | ||
Crown PBM L.L.C. | Delaware | 14-2004771 | ||
Crown RIA L.L.C. | Delaware | 52-2106838 | ||
Crown RIB L.L.C. | Delaware | 56-2125835 | ||
Crown SJC L.L.C. | Delaware | 81-0630983 | ||
Crown SNI L.L.C. | Delaware | 30-0199361 | ||
CSA Imports L.L.C. | Delaware | 59-3631079 | ||
Escude-NN L.L.C. | Delaware | 64-0922808 | ||
Escude-NS L.L.C. | Delaware | 64-0922811 | ||
Escude-T L.L.C. | Delaware | 64-0922812 |
4
Florida Automotive Services L.L.C. | Delaware | 37-1514249 | ||
HFP Motors L.L.C. | Delaware | 06-1631102 | ||
JC Dealer Systems, LLC | Delaware | 58-2628641 | ||
KP Motors L.L.C. | Delaware | 06-1629064 | ||
McDavid Austin-Acra L.L.C. | Delaware | 11-3816170 | ||
McDavid Frisco-Hon L.L.C. | Delaware | 11-3816176 | ||
McDavid Grande, L.L.C. | Delaware | 11-3816168 | ||
McDavid Houston-Hon, L.L.C. | Delaware | 11-3816781 | ||
McDavid Houston-Niss, L.L.C. | Delaware | 11-3816172 | ||
McDavid Irving-Hon, L.L.C. | Delaware | 11-3816175 | ||
McDavid Outfitters, L.L.C. | Delaware | 11-3816166 | ||
McDavid Plano-Acra, L.L.C. | Delaware | 11-3816179 | ||
Mid-Atlantic Automotive Services, L.L.C. | Delaware | 27-1386312 | ||
Mississippi Automotive Services, L.L.C. | Delaware | 27-1386394 | ||
Missouri Automotive Services, L.L.C. | Delaware | 27-1386466 | ||
NP FLM L.L.C. | Delaware | 71-0819724 | ||
NP MZD L.L.C. | Delaware | 71-0819723 | ||
NP VKW L.L.C. | Delaware | 71-0819721 | ||
Plano Lincoln-Mercury, Inc. | Delaware | 75-2430953 | ||
Precision Computer Services, Inc. | Florida | 59-2867725 | ||
Precision Enterprises Tampa, Inc. | Florida | 59-2148481 | ||
Precision Infiniti, Inc. | Florida | 59-2958651 | ||
Precision Motorcars, Inc. | Florida | 59-1197700 | ||
Precision Nissan, Inc. | Florida | 59-2734672 | ||
Premier NSN L.L.C. | Delaware | 71-0819715 | ||
Premier Pon L.L.C. | Delaware | 71-0819714 | ||
Prestige Bay L.L.C. | Delaware | 71-0819719 | ||
Prestige Toy L.L.C. | Delaware | 71-0819720 | ||
Q Automotive Brandon FL, LLC | Delaware | 30-0814873 | ||
Q Automotive Cumming GA, LLC | Delaware | 35-2510345 | ||
Q Automotive Ft. Myers FL, LLC | Delaware | 35-2512091 | ||
Q Automotive Group L.L.C. | Delaware | 46-5095896 | ||
Q Automotive Holiday FL, LLC | Delaware | 46-5095896 | ||
Q Automotive Jacksonville FL, LLC | Delaware | 35-2503996 | ||
Q Automotive Kennesaw GA, LLC | Delaware | 37-1768829 | ||
Q Automotive Orlando FL, LLC | Delaware | 37-1759677 | ||
Q Automotive Tampa FL, LLC | Delaware | 46-5095896 | ||
Southern Atlantic Automotive Services, L.L.C. | Delaware | 37-1514247 | ||
Tampa Hund, L.P. | Delaware | 59-3512664 | ||
Tampa Kia, L.P. | Delaware | 59-3512666 | ||
Tampa LM, L.P. | Delaware | 52-2124362 | ||
Tampa Mit, L.P. | Delaware | 59-3512667 | ||
Texas Automotive Services, L.L.C. | Delaware | 27-1386537 | ||
Thomason Auto Credit Northwest, Inc. | Oregon | 93-1119211 | ||
Thomason Dam L.L.C. | Delaware | 93-1266231 | ||
Thomason FRD L.L.C. | Delaware | 93-1254703 | ||
Thomason Hund L.L.C. | Delaware | 93-1254690 | ||
Thomason Pontiac-GMC L.L.C. | Delaware | 43-1976952 | ||
WMZ Motors, L.P. | Delaware | 59-3512663 | ||
WTY Motors, L.P. | Delaware | 59-3512669 |
5
4.50% Senior Notes Due 2028
Guarantee of 4.50% Senior Notes Due 2028 (Title of the Indenture Securities)
And
4.75% Senior Notes Due 2030
Guarantee of 4.75% Senior Notes Due 2030 (Title of the Indenture Securities)
6
FORM T-1
| Item 1. | GENERAL INFORMATION. Furnish the following information as to the Trustee. |
| a) | Name and address of each examining or supervising authority to which it is subject. |
Comptroller of the Currency
Washington, D.C.
| b) | Whether it is authorized to exercise corporate trust powers. |
Yes
| Item 2. | AFFILIATIONS WITH OBLIGOR. If the obligor is an affiliate of the Trustee, describe each such affiliation. |
None
| Items 3-15 | Items 3-15 are not applicable because to the best of the Trustee’s knowledge, the obligor is not in default under any Indenture for which the Trustee acts as Trustee. |
| Item 16. | LIST OF EXHIBITS: List below all exhibits filed as a part of this statement of eligibility and qualification. |
| 1. | A copy of the Articles of Association of the Trustee.* |
| 2. | A copy of the certificate of authority of the Trustee to commence business, attached as Exhibit 2. |
| 3. | A copy of the certificate of authority of the Trustee to exercise corporate trust powers, attached as Exhibit 3. |
| 4. | A copy of the existing bylaws of the Trustee.** |
| 5. | A copy of each Indenture referred to in Item 4. Not applicable. |
| 6. | The consent of the Trustee required by Section 321(b) of the Trust Indenture Act of 1939, attached as Exhibit 6. |
| 7. | Report of Condition of the Trustee as of March 31, 2020 published pursuant to law or the requirements of its supervising or examining authority, attached as Exhibit 7. |
| * | Incorporated by reference to Exhibit 25.1 to Amendment No. 2 to registration statement on S-4, Registration Number 333-128217 filed on November 15, 2005. |
| ** | Incorporated by reference to Exhibit 25.1 to registration statement on form S-3ASR, Registration Number 333-199863 filed on November 5, 2014. |
7
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the Trustee, U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Atlanta, Georgia on the 14th of August, 2020.
| By: | /s/ David Ferrell | |
David Ferrell Vice President |
8
Exhibit 2
CERTIFICATION OF CORPORATE EXISTENCE
I, Joseph Otting, Comptroller of the Currency, do hereby certify that:
1. The Comptroller of the Currency, pursuant to Revised Statutes 324, et seq, as amended, and 12 USC 1, et seq, as amended, has possession, custody, and control of all records pertaining to the chartering, regulation, and supervision of all national banking associations.
IN TESTIMONY WHEREOF, today, February 24, 2020, I have hereunto subscribed my name and caused my seal of office to be affixed to these presents at the U.S. Department of the Treasury in the City of Washington, District of Columbia
/s/ Joseph Otting
Comptroller of the Currency
2. “U.S. Bank National Association,” Cincinnati, Ohio (Charter No. 24), is a national banking association formed under the laws of the United State and is authorized thereunder to transact the business of banking on the date of this certificate.
9
Exhibit 3
CERTIFICATION OF FIDUCIARY POWERS
I, Joseph Otting, Comptroller of the Currency, do hereby certify that:
1. The Office of the Comptroller of the Currency, pursuant to Revised Statutes 324, et seq, as amended, and 12 USC 1, et seq, as amended, has possession, custody, and control of all records pertaining to the chartering, regulation, and supervision of all national banking associations.
2. “U.S. Bank National Association,” Cincinnati, Ohio (Charter No. 24), was granted, under the hand and seal of the Comptroller, the right to act in all fiduciary capacities authorized under the provisions of the Act of Congress approved September 28 1962, 67 Stat. 668, 12 USC 92a, and that the authority so granted remains in full force and effect on the date of this certificate.
IN TESTIMONY WHEREOF, today, December 10, 2019, I have hereunto subscribed my name and caused my seal of office to be affixed to these presents at the U.S. Department of the Treasury in the City of Washington, District of Columbia
/s/ Joseph Otting
Comptroller of the Currency
10
Exhibit 6
CONSENT
In accordance with Section 321(b) of the Trust Indenture Act of 1939, the undersigned, U.S. BANK NATIONAL ASSOCIATION hereby consents that reports of examination of the undersigned by Federal, State, Territorial or District authorities may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.
Dated: August 14, 2020
| By: | /s/ David Ferrell | |
David Ferrell Vice President |
11
Exhibit 7
U.S. Bank National Association
Statement of Financial Condition
As of 3/31/2020
($000’s)
| 3/31/2020 | ||||
Assets | ||||
Cash and Balances Due From Depository Institutions | $ | 46,699,020 | ||
Securities | 122,149,987 | |||
Federal Funds | 2,807 | |||
Loans & Lease Financing Receivables | 316,711,655 | |||
Fixed Assets | 9,075,777 | |||
Intangible Assets | 12,477,802 | |||
Other Assets | 26,012,043 | |||
|
| |||
Total Assets | $ | 533,129,091 | ||
Liabilities | ||||
Deposits | $ | 405,823,094 | ||
Fed Funds | 1,428,527 | |||
Treasury Demand Notes | 0 | |||
Trading Liabilities | 1,392,214 | |||
Other Borrowed Money | 55,078,404 | |||
Acceptances | 0 | |||
Subordinated Notes and Debentures | 3,850,000 | |||
Other Liabilities | 14,338,298 | |||
|
| |||
Total Liabilities | $ | 481,910,537 | ||
Equity | ||||
Common and Preferred Stock | 18,200 | |||
Surplus | 14,266,915 | |||
Undivided Profits | 36,132,907 | |||
Minority Interest in Subsidiaries | 800,532 | |||
|
| |||
Total Equity Capital | $ | 51,218,554 | ||
Total Liabilities and Equity Capital | $ | 533,129,091 | ||
12