LKQ Corporation Completes Amendment to Senior Secured Credit Facility
CHICAGO, May 6, 2013 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq:LKQ)
announced that it closed on May 3, 2013 an amendment to its credit facility
that increased the aggregate amount available thereunder from $1.4 billion to
$1.8 billion ($1.35 billion under the revolving credit facility and $450
million of term loan availability). Pricing under the amended facility remains
substantially the same as prior to the amendment. The amended facility
includesmodest modifications to the covenants that provide the Company with
additional operating flexibility. The amended facility matures in May 2018.
"We are pleased to complete the amendment to our credit facility and
appreciate the confidence of our banking partners. We believe the amended
facility, together with our pending $600 million bond issuance, provides the
Company the financial flexibility to efficiently execute our long-term growth
strategy," stated John Quinn, Executive Vice President and Chief Financial
Officer of LKQ Corporation.
About LKQ Corporation
LKQ Corporation is the largest nationwide provider of aftermarket, recycled
and refurbished collision replacement parts, and a leading provider of
recycled transmissions and remanufactured engines, all in connection with the
repair of automobiles and other vehicles. LKQ also has operations in the
United Kingdom, the Benelux, France, Canada, Mexico and Central America.
Forward Looking Statements
Certain statements in this press release that are not historical facts are
forward looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward looking statements generally
include expectations, beliefs, hopes, intentions or strategies regarding our
future. Forward looking statements are subject to risks, uncertainties and
other factors some of which are not currently known to us. Actual events or
results may differ materially from those expressed or implied in the forward
looking statements as a result of various factors. Some of such risks,
uncertainties and other factors are described in our Form 10-K for the period
ended December 31, 2012, in our Form 10-Q for the period ended March 31, 2013,
and in other documents we file with the Securities and Exchange Commission
from time to time. We assume no obligation to publicly update any forward
looking statement to reflect events or circumstances arising after the date on
which it was made, except as required by law.
CONTACT: Joseph P. Boutross-LKQ Corporation
Director, Investor Relations
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