Published on December 4, 2013

Advance Auto Parts closes senior notes offering

ROANOKE, Va. (Dec. 4, 2013) — Advance Auto Parts Inc. closed on Dec. 3 its senior unsecured notes offering.

The company said it completed the offering of $450 million in principal amount of 4.50 percent senior unsecured notes due 2023 at an issue price of 99.690 percent. The proceeds of the offering are expected to be used to finance Advance's recently announced acquisition of General Parts International Inc. (GPI) and for general corporate purposes.

Merrill Lynch, Pierce, Fenner & Smith Inc. and J.P. Morgan Securities L.L.C. acted as joint book-running managers of the debt offering. The offering is being made solely by means of a prospectus supplement and accompanying prospectus, which has been filed with the Securities and Exchange Commission (SEC), according to Roanoke-based Advance.

A copy of the prospectus for the offering is available on the SEC website.

The automotive aftermarket retailer of parts, accessories, batteries and maintenance items operated, as of Oct. 5, 4,018 stores in 39 states, Puerto Rico and the Virgin Islands.

GPI, based in Raleigh, N.C., was founded in 1962 by Chairman O. Temple Sloan Jr. The company is a distributor and retailer of replacement parts, supplies, tools and equipment for autos, light and heavy trucks, off-road equipment, buses, recreational equipment and agricultural equipment. It operates the CARQUEST auto parts distribution network, with 38 distribution centers, 1,246 company operated stores across the U.S. and Canada, and 1,418 independently owned CARQUEST locations primarily in the U.S. and Canada. It also operates WORLDPAC, an importer and distributor of original equipment and aftermarket replacement automotive parts to import specialists in North America and Puerto Rico. That unit operates four main distribution centers and 102 facilities across the U.S. and Canada.

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