O'Reilly Automotive, Inc. has issued and sold a total of $1.6 billion in aggregate principal amount of senior unsecured notes in three tranches. The transaction closed on August 14, 2026, and the notes are governed by an indenture dated May 20, 2019, as supplemented.
Key Details
- Note Tranches: The offering consists of (i) $700 million of 4.800% Senior Notes due 2029, (ii) $500 million of 5.050% Senior Notes due 2031, and (iii) $400 million of 5.550% Senior Notes due 2037.
- Ranking: The notes are general unsecured senior obligations and rank equally in right of payment with all of the company's other existing and future unsecured and unsubordinated debt.
- Change of Control: Upon the occurrence of a Change of Control Triggering Event, holders have the right to require the company to repurchase their notes at a price equal to 101% of the aggregate principal amount plus accrued interest.