Advance Auto Parts launches $1.5B senior notes offering, plans to redeem 2026 notes

ADVANCE AUTO PARTS INC

Offers $1.5B aggregate senior unsecured notes in two tranches due 2030 and 2033.
Net proceeds to redeem all outstanding 5.90% Senior Notes due March 2026.
Also plans new $1B asset-based revolving credit facility (ABL Facility) with 5-year term.
Portion of proceeds plus cash on hand may contribute up to $2.5B as qualified cash to ABL borrowing base.
Notes and guarantees not registered under Securities Act; offered to QIBs and non-U.S. persons.

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