Hogan Lovells advises Advance Auto Parts on U.S.$1.95 billion senior notes offering
Washington, D.C., New York, N.Y. – Global law firm Hogan Lovells advised Advance Auto Parts, Inc. (NYSE: AAP) (“Advance”) in connection with an offering of US$975 million in aggregate principal amount of senior notes due 2030 and US$975 million in aggregate principal amount of senior notes due 2033. The notes were sold in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act.
Advance is a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers.
The offering closed on August 4, 2025. A portion of the net proceeds will be used to redeem all of Advance’s outstanding 5.900% senior notes due 2026. The remaining net proceeds from the issuance are available for general corporate purposes, and, together with existing cash and cash equivalents, are expected to be designated as qualified cash for the initial borrowing base under the Company’s ABL facility.
The Hogan Lovells team was led by Capital Markets partners John Beckman (Washington, D.C.) and Stuart Morrissy (New York), as well as counsel Meredith Hines (Capital Markets - New York), with support from Tax partner Scott Lilienthal (Washington, D.C.), counsel Weston Gaines (Capital Markets - Washington, D.C.), senior associate Ann Du (Capital Markets - New York), and associates Helen Ferrall (Capital Markets – Washington, D.C.) and Megan McCarthy Scalia (Corporate & Finance – Washington, D.C.).
More information on the deal can be found here.
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