O'Reilly offers $300M in senior notes

O'Reilly Automotive Inc. (Nasdaq: ORLY) yesterday announced plans to offer $300 million in senior notes at an aggregate principal amount of 3.8 percent.

The notes, due 2022, are available to the public at roughly 99.6 percent of face value, and the Springfield-based auto parts dealer expects the offering will close about Aug. 21, according to a news release.

O'Reilly plans to use the proceeds of the offering for general corporate purposes, including capital increases, repurchasing shares of common stock and debt repayment.

J.P. Morgan Securities LLC and U.S. Bancorp Investments Inc. are serving as joint book-running managers for the offering, the release said.

O'Reilly posted second-quarter earnings of $146.1 million, a 9.2 percent increase compared to second-quarter 2011. As of June 30, O'Reilly's assets were $2.7 billion, and the company employed 52,254 across 3,859 stores in 39 states.

The company's shares were trading at $88.45 as of 10:11 a.m., compared to a 52-week range of $59.03 to $107.13.