Advance Auto Parts, Inc. $350 Million Notes Offering and Concurrent Cash Tender Offer
9/29/2020

Davis Polk advised the joint book-running managers in connection with an offering by Advance Auto Parts, Inc. of $350 million aggregate principal amount of its 1.750% notes due 2027. The notes are guaranteed on a senior unsecured basis by certain of Advance Auto Parts’ wholly owned subsidiaries.

 Davis Polk also advised the dealer manager in connection with Advance Auto Parts’ concurrent cash tender offer to purchase any and all of its outstanding 4.50% notes due 2023. The concurrent cash tender offer was funded with the proceeds of the notes offering.

Advance Auto Parts is a leading automotive aftermarket parts provider in North America, serving both professional installers and “do-it-yourself” customers as well as independently owned operators. Its stores and branches offer a broad selection of brand name, original equipment manufacturer and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy-duty trucks.

The Davis Polk capital markets team included partner Michael Kaplan and associate Heita Miki. Counsel David A. Zilberberg provided environmental advice. Partner Lucy W. Farr and associate Liang Zhang provided tax advice. All members of the Davis Polk team are based in the New York office.