Genuine Parts Company Prices $500 Million Of Senior Notes
Genuine Parts Company (NYSE: GPC) announced the pricing of $500 million in 1.875% senior notes due 2030, issued at a price of 99.069% of face value. The offering is expected to settle on October 29, 2020. The company plans to use the proceeds to repay outstanding debt obligations. GPC has filed a registration statement with the SEC for this offering, and interested investors can access the prospectus for more information. The press release includes forward-looking statements and cautions against placing undue reliance on them due to associated risks.
- GPC is issuing $500 million in senior notes, which may improve financial flexibility.
- The proceeds will be used to repay outstanding indebtedness, potentially strengthening GPC's balance sheet.
- Issuing new debt could lead to increased financial obligations if not managed properly.
- There are inherent risks in the forward-looking statements regarding future performance.
ATLANTA, Oct. 28, 2020 /PRNewswire/ -- Genuine Parts Company (NYSE: GPC) announced today the pricing of its
GPC has filed a registration statement, including a prospectus and preliminary prospectus supplement, with the SEC for this offering. Prospective investors should read the prospectus in that registration statement, the preliminary prospectus supplement and other documents GPC has filed with the SEC for more complete information about GPC and this offering. The documents are available for free by visiting EDGAR on the SEC website at sec.gov.
Alternatively, copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained by contacting the joint book-running managers by calling J.P. Morgan Securities LLC toll free at (866)-803-9204 or writing to J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer or sale of these securities will be made only by means of a prospectus, including a prospectus supplement, forming a part of the related registration statement.
Forward Looking Statements
This press release contains forward-looking statements that represent our current judgment about possible future events. The Company cautions that its forward-looking statements involve risks and uncertainties, and while we believe that our expectations for the future are reasonable in view of currently available information, you are cautioned not to place undue reliance on our forward-looking statements. Actual results or events may differ materially from those indicated as a result of various important factors. A list and description of these factors (all of which risks may be amplified by the COVID-19 outbreak) can be found in our Annual Report on Form 10-K and our subsequent filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements are only as of the date they are made, and the Company undertakes no duty to update its forward-looking statements except as required by law.
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SOURCE Genuine Parts Company
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