O’Reilly Automotive to price offering of senior notes

By Rebecca Melvin

New York, March 25 – O’Reilly Automotive Inc. is pricing an offering of senior notes, according to a 424B5 filed with the Securities and Exchange Commission on Wednesday.

J.P. Morgan Securities LLC, U.S. Bancorp Investments Inc., Wells Fargo Securities LLC and SunTrust Robinson Humphrey Inc. are the joint bookrunning managers of the SEC-registered deal.

The notes are freely callable, and there is a change-of-control put at 101%.

The proceeds are intended to be used to repay outstanding borrowings under the company’s credit facility, with remaining proceeds for general corporate purposes, which may include ordinary course working capital, repurchases of common stock, and investments in other business opportunities, including acquisitions.

The Springfield, Mo.-based company is an auto parts retailer.

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