Genuine Parts issues $800M in senior notes: $425M at 6.500% due 2028, $375M at 6.875% due 2033

GENUINE PARTS CO

Issued $425M 6.500% Senior Notes due 2028 and $375M 6.875% Senior Notes due 2033 for total $800M.
Net proceeds to repay 3.24% Series F Senior Promissory Notes due Dec 2, 2023 and revolving credit facility.
Notes are unsecured, unsubordinated, rank equally with other unsecured debt; structurally subordinated to subsidiary obligations.
Notes subject to make-whole redemption prior to Oct 1, 2028 (2028) and Aug 1, 2033 (2033); change of control trigger at 101%.
Interest payable May 1 and Nov 1 starting May 1, 2024.

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