RALEIGH, N.C.--(BUSINESS WIRE)--
Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, today announced it will redeem the $300 million aggregate principle of its 5.750% Notes due 2020 using available cash on hand.
“I am pleased with our teams’ ability to deliver meaningful financial and operational improvements over the past several quarters,” said Executive Vice President and Chief Financial Officer Jeff Shepherd. “We remain incredibly disciplined in our approach to managing cash and delivering on our capital allocation priorities. In line with our financial priorities, the redemption of these notes reflects our focus to maintain an investment grade rating and underscores our confidence to generate significant cash flow from the business. We are confident in our ability to continue driving value for our shareholders while investing in initiatives to fuel the growth of Advance.”
About Advance Auto Parts
Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of October 6, 2018, Advance operated 4,981 stores and 139 Worldpac branches in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. The Company also serves 1,229 independently owned Carquest branded stores across these locations in addition to Mexico, the Bahamas, Turks and Caicos, British Virgin Islands and Pacific Islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at .
Forward-Looking Statements
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