CHICAGO, May 2, 2013 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq:LKQ) announced today that it priced an offering of $600 million aggregate principal amount of 4.75% senior notes due 2023, which represents an increase in aggregate principal amount from the $500 million offering of notes previously announced.
LKQ Corporation will pay interest on the notes semi-annually on May 15 and November 15 of each year, commencing on November 15, 2013. The notes will mature on May 15, 2023. The notes will be fully and unconditionally guaranteed by certain of the Company's subsidiaries. The Company intends to use the net proceeds from the offering to repay borrowings under its revolving credit facility and term loan facility, to pay related fees and expenses and for general corporate purposes. The offering is expected to close on or about May 9, 2013, subject to customary closing conditions.
The notes will not be registered under the Securities Act of 1933, as amended (the "Securities Act") or the securities laws of any other jurisdiction. As a result, they may not be offered or sold in the United States or to any U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The notes will be offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.This announcement does not constitute an offer to sell or the solicitation of an offer to buy the notes, and shall not constitute an offer, solicitation or sale of such notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts