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O’Reilly Automotive eyes issue of senior notes via four bookrunners
By Mary-Katherine Stinson
Lexington, Ky., June 6 – O’Reilly Automotive Inc. is pricing an offering of senior notes, according to a 424B5 filed with the Securities and Exchange Commission on Monday.
The notes will have a make-whole call and a par call a number of months before the maturity date.
Any change of control will make the notes putable at 101.
J.P. Morgan Securities LLC, U.S. Bancorp Investments, Inc., BofA Securities, Inc. and Truist Securities, Inc. are joint bookrunners for the notes.
U.S. Bank Trust Co., NA is the trustee.
Skadden, Arps, Slate, Meagher & Flom LLP will serve as counsel for the company.
Shook, Hardy & Bacon LLP will serve as counsel for O’Reilly regarding Missouri law.
Sidley Austin LLP is counsel to the bookrunners.
A portion of the proceeds will be used to repay borrowings under the company’s credit facility. If any proceeds remain, they will be used for general corporate purposes which may include working capital, stock repurchases and investments in other business opportunities, including acquisitions and related fees and expenses.
The Springfield, Mo.-based company is an aftermarket auto parts retailer.
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