AUTOZONE, INC. (NYSE:AZO) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement.
Extension of Credit Facility
On November18, 2017, AutoZone, Inc. (“AutoZone”) entered into a Master Extension, New Commitment and Amendment Agreement dated as of November18, 2017 (the “Extension Amendment”) to the Third Amended and Restated Credit Agreement dated as of November18, 2016, as amended, modified, extended or restated from time to time among AutoZone as Borrower, the several lenders from time to time party thereto, and Bank of America, N.A. as Administrative Agent and Swingline Lender, JPMorgan Chase Bank, N.A. as Syndication Agent (“JPMorgan”), arranged by Merrill Lynch, Pierce, Fenner& Smith Incorporated (“Merrill Lynch”) and J.P. Morgan as Joint Lead Arrangers and Merrill Lynch, J.P. Morgan, SunTrust Robinson Humphrey, Inc., U.S. Bank National Association, Wells Fargo Securities, LLC and Barclays Capital as Joint Book Runners (the “Revolving Credit Agreement”). Under the Extension Amendment:(i)AutoZone’s borrowing capacity under the Revolving Credit Agreement was increased from $1.6billion to $2.0billion; (ii)AutoZone’s option to increase its borrowing capacity under the Revolving Credit Agreement was “refreshed” and the amount of such optional increase was raised from $400million to $800million, so that the maximum borrowing under the Revolving Credit Agreement may, at AutoZone’s option (subject to lenders’ approval), be increased from $2.0billion to $2.4billion; (iii)the termination date of the Revolving Credit Agreement was extended from November18, 2021 until November18, 2022; and (iv)AutoZone has the option to make one additional written request of the lenders to extend the termination date then in effect for an additional one year.The Extension Amendment made no other changes to the Revolving Credit Agreement.
Item 1.01. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 1.01.
AutoZone has other commercial relationships with certain parties to the Extension Amendment described in Item 1.01 above. From time to time, several of the lenders or their affiliates furnish general financing and banking services to AutoZone.
Item 1.01. Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit No. |
Description |
| 10.1 | Master Extension, New Commitment and Amendment Agreement dated as of November 18, 2017 among AutoZone, Inc. as Borrower; Bank of America, N.A. as Administrative Agent and Swingline Lender; JPMorgan Chase Bank, N.A. as Syndication Agent; Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Chase Bank, N.A. as Joint Lead Arrangers; Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Chase Bank, N.A., SunTrust Robinson Humphrey, Inc., U.S. Bank National Association, Wells Fargo Securities, LLC and Barclay’s Capital as Joint Book Runners; SunTrust Bank, U.S. Bank National Association, Wells Fargo Bank, National Association and Barclay’s Bank PLC as Documentation Agents; and the several lenders party thereto. |
AUTOZONE INC ExhibitEX-10.1 2 d457659dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 MASTER EXTENSION,…To view the full exhibit click here
About AUTOZONE, INC. (NYSE:AZO)
Autozone, Inc. is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil. The Company’s stores carry product lines for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive products. The Company’s other operating segments include ALLDATA, which produces, sells and maintains diagnostic and repair information software used in the automotive repair industry; E-commerce, which includes direct sales to customers through www.autozone.com, and AutoAnything, which includes direct sales to customers through www.autoanything.com.