2023-05-16 06:23:00 ET
- LKQ Corporation ( NASDAQ: LKQ ) has priced offering of $1.4B of senior notes in two tranches.
- The offering comprises of $800M of 5.75% senior notes due 2028 and $600M of 6.25% senior unsecured notes due 2033.
- The offering is expected to close on May 24, 2023.
- Net proceeds together with borrowings under its C$700M term loan credit agreement will be used to finance a portion of the consideration payable by the company in connection with its previously announced acquisition of Uni-Select Inc., including repaying existing Uni-Select indebtedness, to pay associated fees and expenses, and for general corporate purposes.
- If the acquisition is not consummated or terminated, in each case, on or prior to November 27, 2023, the company will be required to redeem the 2033 notes at a redemption price equal to 101% of the principal amount of such notes, plus accrued and unpaid interest.
For further details see:
LKQ Corporation raises $1.4B through unsecured debt offering