---
schema_version: "secwatch.filing_event.v1"
accession: "0000898173-23-000047"
form_type: "8-K"
ticker: "ORLY"
cik: "0000898173"
company_name: "O REILLY AUTOMOTIVE INC"
filed_at: "2023-08-09T23:59:59+00:00"
generated_at: "2026-06-12T00:02:10.103730+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# O'Reilly Automotive establishes $1.8B commercial paper program

## Summary
- Program permits unsecured notes up to $1.8B aggregate face value; maturities up to 397 days.
- Notes rank pari passu with other unsecured and unsubordinated indebtedness.
- Proceeds to be used for general corporate purposes; revolving credit facility provides liquidity backstop.
- No notes outstanding under the program as of August 9, 2023.

## SEC filing metadata
- accession: 0000898173-23-000047
- form_type: 8-K
- ticker: ORLY
- cik: 0000898173
- company_name: O REILLY AUTOMOTIVE INC
- filed_at: 2023-08-09T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/898173/000089817323000047/0000898173-23-000047-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/898173/000089817323000047/orly-20230809x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000898173-23-000047
- JSON: https://secwatch.observer/filing/0000898173-23-000047.json
- Plain text: https://secwatch.observer/filing/0000898173-23-000047.txt

## Key facts
- Debt Financings
  O REILLY AUTOMOTIVE INC incurred debt of not to exceed $1,800,000,000 maturing up to 397 days from the date of issue.
  - Principal: not to exceed $1,800,000,000
  - Maturity: up to 397 days from the date of issue
  - Event: incurrence
  source text: Amounts available under the Program may be borrowed, repaid and re-borrowed from time to time, with the aggregate face or principal amount of the Notes outstanding under the Program at any time not to exceed $1,800,000,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/898173/000089817323000047/0000898173-23-000047-index.htm
- Material Agreements
  O REILLY AUTOMOTIVE INC entered into Dealer Agreements with commercial paper dealers valued at $1,800,000,000 (effective 2023-08-09).
  - Action: entry
  - Counterparty: commercial paper dealers
  - Value: $1,800,000,000
  - Effective: 2023-08-09
  source text: On August 9, 2023, O’Reilly Automotive, Inc. (the “Company”) established a commercial paper program (the “Program”) pursuant to which it may issue short-term, unsecured commercial paper notes (the “Notes”) under the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/898173/000089817323000047/0000898173-23-000047-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.