YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Springfield-based auto parts retailer O'Reilly Automotive Inc. (Nasdaq: ORLY) this week is offering $1.6 billion in debt.
The Aug. 10 offering expires Aug. 14, according to a filing with the U.S. Securities and Exchange Commission.
"The estimated net proceeds from the offering of the notes are expected to be approximately $1.59 billion, after deducting the underwriting discounts and estimated offering expenses payable by the company," officials said in the SEC filing.
The filing indicates the new senior notes would be used to help pay off existing debt and for general corporate purposes.
The senior notes comprise $700 million at 4.8% interest due in 2029, $500 million at 5.05% due in 2031 and $400 million at 5.55% due in 2037, according to the filing.
In the second quarter, O'Reilly Automotive reported a 7% increase in profits to $715.1 million. Revenue rose 8.1% to $4.9 billion.
ORLY shares were trading at $92.63 as of 10:02 a.m., compared with a 52-week range of $82.59 to $108.72 per share.
Shortly after getting married, Amos and Shelby Hale became first-time business owners with the July 10 launch of 9 Lives Tavern in downtown Ozark.
