O’Reilly Automotive is raising $500 million in a sale of senior notes. The specialty retailer of automotive aftermarket parts appointed Bank of America Merrill Lynch and Barclays as the joint bookrunning managers for the deal, adds Reuters.
The company intends to use the income to repay all of its remaining indebtedness under its existing asset-based revolving credit facility, to pay fees and expenses related to the offering of the notes and for general corporate purposes. The notes carry a coupon rate of 4.875%, and are due to mature on Jan. 14, 2021.
Click here for the release from Globe Newswire.
Click here for additional coverage from Reuters.