CHICAGO - LKQ Corporation (NASDAQ:LKQ), a global distributor of vehicle parts, has announced the pricing of a €750 million senior notes offering at 4.125% due in 2031 by its subsidiary, LKQ Dutch Bond B.V.
The closing of the offering is anticipated on or around March 13, 2024, subject to customary conditions. The joint book-running managers for the transaction are BofA, HSBC, Wells Fargo, BNP Paribas (OTC:BNPQY), MUFG, and UniCredit.
The notes are to be unconditionally guaranteed by LKQ Corporation and some of its U.S. subsidiaries. The proceeds from the sale are intended to redeem the outstanding €500 million 3.875% senior notes due 2024 and to cover related fees and expenses.
This financial move aligns with LKQ's strategy to manage its debt portfolio effectively. The company has registered the offering with the U.S. Securities and Exchange Commission (SEC), and the documentation is available on the SEC's EDGAR database.
LKQ has emphasized that this press release does not constitute an offer to sell or a solicitation of an offer to buy the notes. The sale of the notes will not be conducted in any jurisdiction where such an offer, solicitation, or sale would be unlawful.
As a leading provider of alternative and specialty parts for vehicle repair and accessories, LKQ operates across North America, Europe, and Taiwan. The company supplies a wide range of OEM recycled and aftermarket parts, systems, and services for automobiles, trucks, and recreational vehicles.
Investors are advised that certain forward-looking statements in the press release reflect expectations regarding the notes offering and the use of proceeds, which are subject to risks and uncertainties that could cause actual results to differ materially.
This news article is based on a press release statement from LKQ Corporation.
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