Business Context and Reporting Period
Company: Advance Auto Parts, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: April 19, 2013
Reporting Period: Specific event date of April 19, 2013.
This filing reports the entry into material definitive agreements regarding the company's debt structures. It does not cover a standard quarterly or annual financial reporting period.
Key Financial Metrics
The filing text does not provide current revenue, profit, cash flow, margin, or liquidity figures. It references existing debt instruments:
- Senior Unsecured Notes: 5.75% notes issued in April 2010 and 4.50% notes issued in January 2012.
- Revolving Credit Facility: A $750 million unsecured five-year facility entered into on May 27, 2011 (the "2011 Credit Agreement").
Material Changes
The primary material change reported is the expansion of the guarantee structure for the company's existing debt obligations:
- Fifth Supplemental Indenture: Dated April 19, 2013, this agreement adds one of Advance Stores' domestic subsidiaries as a Subsidiary Guarantor under the Indenture for the 5.75% and 4.50% senior unsecured notes.
- Supplement No. 2 to Guarantee Agreement: Dated April 19, 2013, this agreement adds one domestic subsidiary of Advance Stores as a guarantor under the Guarantee Agreement for the $750 million 2011 Credit Agreement.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook for future periods. It does not disclose new risks or contingencies beyond the standard legal obligations associated with the updated guarantee agreements. The filing explicitly states that the descriptions of the agreements are qualified in their entirety by the full text of the exhibits.
Investor Verification Checklist
- Verify the identity of the specific domestic subsidiary added as a guarantor in the Fifth Supplemental Indenture (Exhibit 4.6).
- Confirm the identity of the domestic subsidiary added as a guarantor in Supplement No. 2 to the Guarantee Agreement (Exhibit 10.2).
- Review the full text of the Fifth Supplemental Indenture and Supplement No. 2 to understand any specific covenants or conditions attached to the new guarantors.
- Check subsequent filings for any changes to the $750 million credit facility utilization or the outstanding balance of the senior unsecured notes.