The offering, set to close Jan. 10, consists of $500 million of 1.750% senior notes due 2025 issued at a price equal to 99.721% of the face value of the notes and $500 million of 2.750% senior notes due 2032 issued at a price equal to 98.810% of the face value of the notes.
The automotive parts retailer said it plans to use the net proceeds from the offering to repay a portion of the outstanding indebtedness under its unsecured revolving credit facility incurred to finance a significant portion of its acquisition of Kaman Distribution Group.
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