O’Reilly Automotive, Inc. Announces Proposed Offering of $500 Million of Senior Notes

U.S. auto parts chain O’Reilly Automotive, Inc. has announced that it plans to offer $500 million aggregate principal amount of its Senior Notes due 2021.
The company intends to use the net proceeds of the offering (i) to repay all of the company’s outstanding indebtedness under its existing asset-based revolving credit facility, (ii) to pay fees and expenses related to the offering of the notes, and (iii) for general corporate purposes.
A registration statement on Form S-3 relating to the notes has been filed with the Securities and Exchange Commission and became effective upon filing. Barclays Capital Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book running managers for the offering of the notes.
O’Reilly Automotive, Inc. is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment and accessories in the United States, serving both the do-it-yourself and professional installer markets. Founded in 1957 by the O’Reilly family, the Company operated 3,536 stores in 38 states as of September 30, 2010.

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