AutoZone to price senior notes in two parts via five bookrunners

By Marisa Wong

Los Angeles, Oct. 19 – AutoZone, Inc. is offering fixed-rate senior notes in two parts, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will feature an optional make-whole call followed by an optional par call.

The notes will also be putable at 101 upon a change of control.

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

Regions Bank is the trustee.

Bass, Berry & Sims plc will act as counsel to the issuer, with Brownstein Hyatt Farber Schreck, LLP handling matters of Nevada law. Latham & Watkins LLP will represent the underwriters.

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.

The retailer and distributor of automotive replacement parts and accessories is based in Memphis.

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