YOUR BUSINESS AUTHORITY
Springfield, MO
O’Reilly Automotive Inc. (Nasdaq: ORLY) this month issued $500 million in bonds, according to U.S. Securities and Exchange Commission filings posted yesterday.
Officials with the Springfield-based auto parts retailer expect to net $495 million from the sale of the 4.35 percent senior notes issued May 10. The notes are due in 2028, according to SEC records.
O’Reilly Automotive plans to use the proceeds to pay off outstanding debt under its credit facility. Remaining funds would go toward general corporate purposes, such as working capital, share buybacks and investments, including acquisitions, according to the filings.
The company recently underwent a leadership change that promoted Greg Johnson to CEO. Greg Henslee relinquished the role and became executive vice chairman of the board.
ORLY shares were trading at $270.97 as of 10:35 a.m., compared with a 52-week range of $169.43 to $279.23.
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