03:32 AM EDT, 07/29/2025 (MT Newswires) -- Advance Auto Parts ( AAP ) said late Monday it has priced a private offering of $1.95 billion in senior notes, including $975 million due in 2030 with a 7% interest rate, and another $975 million due in 2033, at 7.375%.

The company said interest on both will be paid semi-annually, with maturity dates of Aug. 1, 2030, and 2033, respectively, unless redeemed earlier.

Additionally, Advance said it plans to enter a new five-year, $1 billion asset-based revolving credit facility, replacing its current one.

Proceeds from the note sale, expected to close on Aug. 4, will help redeem its existing 5.90% senior notes due in 2026 and support general corporate needs, the company said.

It added that part of the proceeds, combined with cash on hand, will fund up to $2.5 billion in the initial borrowing base for the asset-based revolving credit facility.