Advance Auto in New $750M Revolving Credit

Advance Auto Parts, Inc. AAP, a leading automotive aftermarket retailer of parts, batteries, accessories and maintenance items, announced today that it has entered into a new $750 million unsecured revolving credit facility, maturing in May 2016. This facility replaces the Company's existing $750 million revolver which matures in October 2011. “This transaction solidifies our capital structure by securing long-term financing and providing us the financial flexibility to continue to support our Company's growth,” said Michael A. Norona, Executive Vice President and Chief Financial Officer. “We appreciate the confidence that our lenders continue to have in our future.” The interest rate on borrowings under the facility is based on an adjusted LIBOR rate plus a margin or, at the Company's option, on an alternate base rate plus a margin. The margin for both types of borrowings is based on the Company's credit ratings.