AutoZone plans to offer fixed-rate senior notes in two tranches

By Mary-Katherine Stinson

Lexington, Ky., July 18 – AutoZone, Inc. intends to sell fixed-rate senior notes in two tranches, according to a 424B5 filed with the Securities and Exchange Commission.

Each of the notes features a make-whole call until some months prior to maturity and then a par call.

The notes will be putable at 101 in the event of a change of control.

BofA Securities, Inc., J.P. Morgan Securities LLC, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC are the bookrunners.

Regions Bank is the trustee.

Bass, Berry & Sims plc and Brownstein Hyatt Farber Schreck, LLP (Nevada law) are counsel to the issuer. Counsel to the underwriters is provided by Latham & Watkins LLP.

Proceeds will be used for general corporate purposes, which may include repaying, redeeming or repurchasing outstanding debt including commercial paper, and for working capital, capital expenditures, new store openings, repurchase of common stock and acquisitions.

AutoZone is a Memphis-based auto parts and supplies retailer.

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