O’Reilly to repay credit facility borrowings with new note offering

By Sarah Lizee

Olympia, Wash., Aug. 10 – O’Reilly Automotive, Inc. plans to repay borrowings under its credit facility with an offering of senior notes due 2027, according to a 424B5 filing with the Securities and Exchange Commission.

As of June 30, the company had $716 million outstanding under its credit facility and approximately $484 million available for borrowing.

The company plans to use any remaining proceeds for general corporate purposes, which may include ordinary course working capital, repurchases of shares of the company’s common stock and investments in other business opportunities, including acquisitions and to pay related fees and expenses.

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

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