ATLANTA, Jan. 7, 2022 /PRNewswire/ -- Genuine Parts Company (NYSE: GPC), a leading distributor of automotive and industrial replacement parts, announced today the pricing of an aggregate $1 billion of senior notes, consisting of $500 million of 1.750% senior notes due 2025 issued at a price equal to 99.721% of the face value of the notes, and $500 million of 2.750% senior notes due 2032 issued at a price equal to 98.810% of the face value of the notes. The offering is expected to settle on January 10, 2022, and the closing of the offering is subject to customary closing conditions. GPC intends to use the net proceeds from this offering to repay a portion of the outstanding indebtedness under GPC's unsecured revolving credit facility incurred to finance a significant portion of the GPC's recent acquisition of Kaman Distribution Group.
GPC is offering the senior notes pursuant to its shelf registration statement filed with the SEC on October 23, 2020, as supplemented by a preliminary prospectus supplement filed with the SEC on January 6, 2022. 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 www.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 Truist Securities, Inc. toll free at (800) 685-4786.
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 pandemic) 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.
About Genuine Parts Company
Founded in 1928, Genuine Parts Company is a global service organization engaged in the distribution of automotive and industrial replacement parts. The Company's Automotive Parts Group distributes automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the United Kingdom, Ireland, Germany, Poland, the Netherlands and Belgium. The Company's Industrial Parts Group distributes industrial replacement parts in the U.S., Canada, Mexico and Australasia. In total, the Company serves its global customers from an extensive network of more than 10,000 locations in 15 countries. Genuine Parts Company had 2020 revenues of $16.5 billion.
SOURCE Genuine Parts Company