- Current report filing (8-K)
20 Outubro 2008 - 2:03PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM 8-K
CURRENT
REPORT PURSUANT
TO SECTION 13 OR 15(d) OF
THE
SECURITIES
EXCHANGE ACT OF 1934
Date of report
(Date of earliest event reported):
October 14, 2008
OREILLY
AUTOMOTIVE, INC.
(Exact name of
registrant as specified in its charter)
Missouri
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44-0618012
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(State or other
jurisdiction
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(I.R.S. Employer
Identification No.)
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of incorporation
or
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organization)
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233 South
Patterson
Springfield,
Missouri 65802
(Address of
principal executive offices, Zip code)
(417)
862-6708
(Registrants
telephone number, including area code)
(Not
Applicable)
(Former name or
former address, if changed since last report.)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2):
o
Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
Item 2.03.
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Creation
of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of a Registrant.
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OReilly
Automotive, Inc. (the Company), entered into interest rate swap
transactions on October 14, 2008, with Branch Banking and Trust Company (BBT),
Bank of America, N.A. (BA) and SunTrust Bank (SunTrust). The Company
entered into the interest rate swap transactions to mitigate the risk
associated with the Companys floating interest rate which is based on LIBOR on
an aggregate of $150 million of the Companys debt that is outstanding under
its Credit Agreement, dated as of July 11, 2008, with Bank of America,
N.A., as administrative agent, and the other parties thereto (the Credit
Facility). Each interest rate swap has an effective date of October 17,
2008. The Company is required to make
certain monthly fixed rate payments calculated on the notional amount of each
swap and the applicable counterparty is obligated to make certain monthly
floating rate payments to the Company referencing the same notional
amounts. The interest rate swap
transactions effectively fix the annual interest rate payable on these notional
amounts of the Companys debt, which may exist under the Credit Facility, to
rates ranging between 2.99% and 3.56%, plus an applicable margin under the
terms of the Credit Facility. The
applicable notional amount, effective interest rate and expiration date for
each swap transaction are as follows:
Counterparty
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Notional Amount
(in millions)
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Effective interest rate
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Expiration Date
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BBT
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$
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25
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2.99
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%
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October 17, 2010
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BBT
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25
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3.01
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October 17, 2010
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BA
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25
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3.05
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October 17, 2010
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SunTrust
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25
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2.99
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October 17, 2010
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BA
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50
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3.56
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October 17, 2011
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Notwithstanding
the terms of the interest rate swap transactions, the Company is ultimately
obligated for all amounts due and payable under the Credit Facility. The
Company may enter into additional swap transactions in the future from time to
time.
2
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
Date: October 20,
2008
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OREILLY AUTOMOTIVE, INC.
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By:
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/s/ Thomas McFall
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Thomas McFall
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Executive Vice
President of Finance
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Chief Financial Officer
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(principal financial
and accounting officer)
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3
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