---
schema_version: "secwatch.filing_event.v1"
accession: "0001065696-23-000035"
form_type: "8-K"
ticker: "LKQ"
cik: "0001065696"
company_name: "LKQ CORP"
filed_at: "2023-03-28T23:59:59+00:00"
generated_at: "2026-06-17T11:42:27.327148+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# LKQ enters CAD 700M term loan facility to fund Uni-Select acquisition

## Summary
- Unsecured term loan up to CAD 700M, matures 3 years from funding date, no amortization before maturity.
- Proceeds to finance portion of cash consideration for Uni-Select acquisition and refinance certain Uni-Select debt.
- Interest rate based on CDOR or Canadian Prime Rate plus spread (1.125%-1.75% Eurocurrency, 0.125%-0.750% Prime).
- Covenants include total leverage ratio and interest coverage ratio; no limits on dividends or investments.
- Certain U.S. domestic subsidiaries act as guarantors; commitment fee of 0.175% per annum on undrawn commitments.

## SEC filing metadata
- accession: 0001065696-23-000035
- form_type: 8-K
- ticker: LKQ
- cik: 0001065696
- company_name: LKQ CORP
- filed_at: 2023-03-28T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1065696/000106569623000035/0001065696-23-000035-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1065696/000106569623000035/lkq-20230327.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001065696-23-000035
- JSON: https://secwatch.observer/filing/0001065696-23-000035.json
- Plain text: https://secwatch.observer/filing/0001065696-23-000035.txt

## Key facts
- Debt Financings
  LKQ CORP incurred term loan of CAD 700 million with Wells Fargo Bank, National Association at Eurocurrency Rate Spread ranges from 1.125% to 1.75%, and the Canadian Prime Rat maturing three years from the date of funding of the Term Loan.
  - Instrument: term loan
  - Principal: CAD 700 million
  - Counterparty: Wells Fargo Bank, National Association
  - Rate: Eurocurrency Rate Spread ranges from 1.125% to 1.75%, and the Canadian Prime Rat
  - Maturity: three years from the date of funding of the Term Loan
  - Event: incurrence
  source text: Wells Fargo Bank, National Association ("Wells Fargo Bank"), as administrative agent; Bank of America, N.A.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1065696/000106569623000035/0001065696-23-000035-index.htm
- Material Agreements
  LKQ CORP entered into Term Loan Credit Agreement with several lenders from time to time party thereto as Lenders; Wells Fargo Bank, National Association, as administrative agent; Bank of America, N.A., as syndication agent; Capital One Bank, N.A., MUFG Bank, Ltd., PNC Bank, National Association and Truist Bank as Documentation Agents; BofA Securities, valued at up to CAD 700 million (effective 2023-03-27).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: several lenders from time to time party thereto as Lenders; Wells Fargo Bank, National Association, as administrative agent; Bank of America, N.A., as syndication agent; Capital One Bank, N.A., MUFG Bank, Ltd., PNC Bank, National Association and Truist Bank as Documentation Agents; BofA Securities,
  - Value: up to CAD 700 million
  - Effective: 2023-03-27
  source text: On March 27, 2023, LKQ Corporation ("LKQ" or the "Company") entered into a new term loan credit agreement (the "Term Loan Credit Agreement") with several lenders from time to time party thereto as Lenders (the "Lenders"); Wells Fargo Bank, National Association ("Wells Fargo Bank"), as administrative agent; Bank of America, N.A. ("Bank of America"), as syndication agent; Capital One Bank, N.A., MUFG Bank, Ltd., PNC Bank, National Association and Truist Bank as Documentation Agents; BofA Securities, Inc., and Wells Fargo Securities, LLC, Capital One Bank, N.A., MUFG Bank, Ltd., PNC Capital Markets LLC and Truist Securities, Inc. as joint bookrunners and joint lead arrangers.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1065696/000106569623000035/0001065696-23-000035-index.htm

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