On August 1, 2022, AutoZone, Inc. completed the sale of $750 million aggregate principal amount of its 4.750% Senior Notes due 2032. The Notes bear interest at a fixed rate equal to 4.750% per year, payable semi-annually.
The Notes were issued pursuant to an Indenture dated as of August 8, 2003, between the Company and Regions Bank, as successor trustee, and were offered and sold pursuant to the Company's shelf registration statement filed with the Securities and Exchange Commission on July 19, 2022, on Form S-3, as supplemented by a prospectus supplement dated July 19, 2022, filed with the Commission on July 20, 2022. Pursuant to the Indenture, the Company executed an Officers' Certificate dated August 1, 2022 setting the terms of the Notes. The Company will pay interest on the Notes on February 1 and August 1 of each year, beginning on February 1, 2023. The Notes will mature on August 1, 2032. The Notes are senior unsecured debt obligations of the Company and rank equally with the Company's other senior unsecured liabilities and senior to any future subordinated indebtedness of the Company. The Notes are subject to customary covenants restricting the Company's ability, subject to certain exceptions, to incur debt secured by liens, to enter into sale and leaseback transactions or to merge or consolidate with another entity or sell substantially all of its assets to another person. The Indenture provides for customary events of default and further provides that the trustee or the holders of 25% in aggregate principal amount of the outstanding Notes may declare such Notes immediately due and payable upon the occurrence of any event of default after expiration of any applicable grace period.