O'Reilly Automotive, Inc. Announces Exchange Period for Exchangeable Notes
01 Outubro 2010 - 6:30PM
O'Reilly Automotive, Inc. ("O'Reilly" or "the Company")
(Nasdaq:ORLY) announced today that the 6 3/4% Exchangeable Senior
Notes due 2025 (the "notes"), which were originally issued by CSK
Auto Corporation ("CSK"), are now exchangeable at the option of the
holders and will remain exchangeable through December 31, 2010, the
last trading day of the current fiscal quarter, as provided for in
the Indenture governing the notes. In connection with its
acquisition of CSK, O'Reilly agreed to guarantee the notes, on a
subordinated basis, and to issue shares of O'Reilly common stock,
if any, upon any exchange of the principal amount of the notes.
The notes became exchangeable as the Company's common stock
closed at or above 130% of the Exchange Price (as defined in the
Indenture governing the notes) for 20 trading days within the 30
consecutive trading day period ending on September 30, 2010. As a
result, during the exchange period commencing October 1, 2010, and
continuing through and including December 31, 2010, for each $1,000
principal amount of the notes held, holders of the notes may, if
they elect, surrender their notes for exchange. The Company expects
to settle each note surrendered for exchange with cash in an amount
equal to $1,000 in cash and shares of O'Reilly common stock in
excess thereof, subject to the terms of the Indenture. During the
third quarter ended September 30, 2010, certain holders of the
notes delivered notice to the Exchange Agent to exercise their
right to exchange $11 million of the principal amount of the
notes. The remaining $89 million of the principal amount of
the notes is outstanding.
O'Reilly Automotive, Inc. is one of the largest
specialty retailers of automotive aftermarket parts, tools,
supplies, equipment and accessories in the United States, serving
both the do-it-yourself and professional installer
markets. Founded in 1957 by the O'Reilly family, the Company
operated 3,492 stores in 38 states as of June 30, 2010.
The O'Reilly Automotive, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5430
The Company claims the protection of the safe-harbor for
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. You can identify
these statements by forward-looking words such as "expect,"
"believe," "anticipate," "should," "plan," "intend," "estimate,"
"project," "will" or similar words. In addition, statements
contained within this press release that are not historical facts
are forward-looking statements, such as statements discussing among
other things, expected growth, store development, integration and
expansion strategy, business strategies, future revenues and future
performance. These forward-looking statements are based on
estimates, projections, beliefs and assumptions and are not
guarantees of future events and results. Such statements are
subject to risks, uncertainties and assumptions, including, but not
limited to, competition, product demand, the market for auto parts,
the economy in general, inflation, consumer debt levels,
governmental approvals, our ability to hire and retain qualified
employees, risks associated with the integration of acquired
businesses including the acquisition of CSK Auto Corporation
("CSK"), weather, terrorist activities, war and the threat of
war. Actual results may materially differ from anticipated
results described or implied in these forward-looking
statements. Please refer to the "Risk Factors" section of the
annual report on Form 10-K for the year ended December 31, 2009,
for additional factors that could materially affect our financial
performance.
CONTACT: O'Reilly Automotive, Inc.
Investor & Media Contacts
Mark Merz
(417) 829-5878
Patrick Lee
(417) 829-2977
O Reilly Automotive (NASDAQ:ORLY)
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