Advance Auto Parts amends credit agreement; sets $750M minimum liquidity, eases coverage covenant

ADVANCE AUTO PARTS INC

Minimum liquidity set at $750M, tested every 28-day period starting Feb 22, 2025.
Consolidated Coverage Ratio floor stays 1.50x through Oct 2025; steps to 1.75x Jan 2026.
Restructuring charge cap raised to $625M from $575M; $175M of accelerated rent charges excluded from ratio.
Expanded guarantee to cover bank product and cash management obligations; springing lien on all non-insignificant subsidiaries.
New 28-day liquidity compliance reporting and tightened cure periods for defaults (5 business days).

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