O'Reilly Automotive, Inc. ORLY announced today that it has priced its previously announced offering of $500 million aggregate principal amount of 4.875% Senior Notes due 2021 at a price to the public of 99.297% of their face value.
The Company anticipates that the offering will close on or around January 14, 2011, subject to customary closing conditions. The Company intends to use the net proceeds of the offering (i) to repay all of the Company's outstanding indebtedness under its existing asset-based revolving credit facility, (ii) to pay fees and expenses related to the offering of the Notes, and (iii) for general corporate purposes.
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