New Issue: O'Reilly Automotive prices $500 million of 3.9% 10-year notes at 145 bps spread

By Cristal Cody

Tupelo, Miss., May 9 – O'Reilly Automotive, Inc. sold $500 million of 3.9% 10-year senior notes (Baa1/BBB) on Thursday at a spread of Treasuries plus 145 basis points, according to an FWP filing with the Securities and Exchange Commission.

The notes priced at 99.991 to yield 3.901%.

Bookrunners were BofA Merrill Lynch, Wells Fargo Securities LLC, J.P. Morgan Securities LLC and U.S. Bancorp Investments Inc.

Proceeds will be used to repay borrowings under the company’s credit facility and for general corporate purposes.

O'Reilly Automotive is a Springfield, Mo.-based retailer of automotive aftermarket products.

Issuer:	O'Reilly Automotive, Inc.
Amount:	$500 million
Description:	Senior notes
Maturity:	June 1, 2029
Bookrunners:	BofA Merrill Lynch, Wells Fargo Securities LLC, J.P. Morgan Securities LLC and U.S. Bancorp Investments Inc.
Senior co-manager:	BB&T Capital Markets
Co-managers:	Regions Securities LLC, TD Securities (USA) LLC, BNP Paribas Securities Corp., PNC Capital Markets LLC, Capital One Securities, Inc., Huntington Investment Co., Citizens Capital Markets, Inc., SunTrust Robinson Humphrey, Inc., Mizuho Securities USA LLC and MUFG
Coupon:	3.9%
Price:	99.991
Yield:	3.901%
Spread:	Treasuries plus 145 bps
Call features:	Make-whole call at greater of par or Treasuries plus 25 bps before March 1, 2029; thereafter at par
Trade date:	May 9
Settlement date:	May 20
Ratings:	Moody’s: Baa1
	S&P: BBB
Distribution:	SEC registered

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