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Advance Auto Parts eyes 10-year fixed-rate notes via five bookrunners
By Devika Patel
Knoxville, Tenn., March 1 – Advance Auto Parts, Inc. expects to sell fixed-rate notes due March 15, 2032, according to a 424B5 filing with the Securities and Exchange Commission.
The notes feature a make-whole call until Dec. 15, 2031 and are then callable at par.
The bookrunners are BofA Securities Inc., J.P. Morgan Securities LLC, Truist Securities Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC.
Computershare Trust Co., NA is the trustee.
Hogan Lovells US LLP is legal counsel for the issuer for matters regarding the validity of the notes. Davis Polk & Wardwell LLP is counsel for the underwriters.
Proceeds will be used to redeem all of the company’s $193.7 million of 4.5% senior notes due Dec. 1, 2023 with a make-whole premium.
Advance Auto is a Roanoke, Va.-based specialty retailer of automotive aftermarket parts, accessories, batteries and maintenance items.
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