Published: April 26, 2010
Advance Auto Parts Announces Senior Notes Offering
ROANOKE, Va. - (BUSINESS WIRE) - Advance Auto Parts, Inc., (NYSE: AAP), a leading automotive
aftermarket retailer of parts, batteries, accessories, and maintenance
items, announced today it priced $300 million in principal amount of
5.75% Senior Unsecured Notes due 2020 at an issue price of 99.587%. The
Company expects to close the offering on April 29, 2010. The proceeds of
the offering will be used to pay off and retire the $200 million of
outstanding indebtedness under its term loan, reduce $75 million of
borrowings under its revolving credit facility, pay transaction fees and
expenses and for general corporate purposes.
Banc of America Securities LLC and J.P. Morgan Securities Inc. acted
as joint book-running managers of the debt offering. The offering is
being made solely by means of a prospectus supplement and accompanying
prospectus, which has been filed with the SEC. A copy of the prospectus
for the offering may be obtained on the SEC's website, www.sec.gov.
Alternatively, you may request it by contacting Banc of America
Securities LLC, Attention: Prospectus Department, 100 West 33rd
Street, 3rd Floor, New York, NY 10001 (phone:
800-294-1322 and e-mail: dg.prospectus_distribution@bofasecurities.com)
or by calling J.P. Morgan Securities Inc. at 212-834-4533.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein, and
shall not constitute an offer, solicitation or sale in any state or
other jurisdiction in which such an offer, solicitation or sale would be
unlawful.
About Advance Auto Parts
Headquartered in Roanoke, Va., Advance Auto Parts, Inc., a leading
automotive aftermarket retailer of parts, accessories, batteries, and
maintenance items in the United States, serves both the do-it-yourself
and professional installer markets. As of January 2, 2010, the
Company operated 3,420 stores in 39 states, Puerto Rico, and the Virgin
Islands. Additional information about the Company, employment
opportunities, customer services and online shopping for parts and
accessories can be found on the Company's website at www.AdvanceAutoParts.com.
Certain statements contained in this release are forward-looking
statements, as that statement is used in the Private Securities
Litigation Reform Act of 1995. Forward-looking statements address
future events or developments, and typically use words such as believe,
anticipate, expect, intend, plan, forecast, outlook or estimate. These
statements discuss, among other things, the expected closing date,
pricing, principal amount and use of proceeds of the Senior Secured
Notes offering. These forward-looking statements are subject to
risks, uncertainties and assumptions including, but not limited to,
competitive pressures, demand for the Company's products, the market for
auto parts, the economy in general, inflation, consumer debt levels, the
weather, acts of terrorism, availability of suitable real estate,
dependence on foreign suppliers and other factors disclosed in the
Company's 10-K for the fiscal year ended January 2, 2010 on file with
the Securities and Exchange Commission. Actual results may differ
materially from anticipated results described in these forward-looking
statements. The Company intends these forward-looking statements
to speak only as of the time of this news release and does not undertake
to update or revise them as more information becomes available.
Advance Auto Parts
Media Contact:
Shelly
Whitaker, APR
540-561-8452
shelly.whitaker@advanceautoparts.com
or
Investor
Contact:
Joshua Moore
952-715-5076
Joshua.moore@advanceautoparts.com
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