Prepared by R.R. Donnelley Financial -- Form 8-K, date of report July 3, 2002

0000898430-02-002521.txt : 20020703 0000898430-02-002521.hdr.sgml : 20020703 20020703143907 ACCESSION NUMBER: 0000898430-02-002521 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020703 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANCE STORES CO INC CENTRAL INDEX KEY: 0001061890 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-AUTO & HOME SUPPLY STORES [5531] IRS NUMBER: 540118110 STATE OF INCORPORATION: VA FISCAL YEAR END: 0103 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-56013 FILM NUMBER: 02696236 BUSINESS ADDRESS: STREET 1: 5673 AIRPORT RD CITY: ROANOKE STATE: VA ZIP: 24012 BUSINESS PHONE: 5403624911 MAIL ADDRESS: STREET 1: 5673 AIRPORT RD CITY: ROANOKE STATE: VA ZIP: 24012 8-K 1 d8k.htm FORM 8-K, DATE OF REPORT JULY 3, 2002 Prepared by R.R. Donnelley Financial -- Form 8-K, date of report July 3, 2002


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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) July 3, 2002

Advance Stores Company, Incorporated

(Exact name of registrant as specified in its charter)

Virginia		333-56013		54-0118110
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

5673 Airport Road, N.W., Roanoke, Virginia		24012
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code (540) 362-4911

(Former name or former address, if changed since last report.)

INFORMATION TO BE INCLUDED IN THE REPORT

Item 5. Other Events and Regulation FD Disclosure.

Reference is made to the press release of Advance Auto Parts, Inc. issued on July 1, 2002, which contains information meeting the requirements of this Item 5, and which is incorporated herein by this reference. A copy of this press release is attached to this Form 8-K as Exhibit 99.

Item 7. Financial Statements and Exhibits.

None.

Exhibit Number		Description

99		Press release of Advance Auto Parts, Inc. dated July 1, 2002

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ADVANCE STORES COMPANY, INCORPORATED (Registrant)

By:		/s/ JEFFREY T. GRAY
		Jeffrey T. Gray Senior Vice President, Controller and Assistant Secretary

Date: July 3, 2002

EXHIBIT INDEX

Exhibit Number		Description

99		Press release of Advance Auto Parts, Inc. dated July 1, 2002

EX-99 3 dex99.htm PRESS RELEASE OF ADVANCE AUTO PARTS, INC. Prepared by R.R. Donnelley Financial -- Press Release of Advance Auto Parts, Inc.

[LETTERHEAD OF ADVANCE AUTO PARTS]

CONTACT: Sheila Stuewe

Sstuewe@AdvanceAutoParts.com

Advance Auto Parts

(540) 561-3281

ADVANCE AUTO PARTS CLOSES ON NEW TERM LOAN

Roanoke, Virginia, July 1, 2002—Advance Auto Parts, Inc. (NYSE: AAP) today announced it has amended its Credit Agreement dated November 28, 2001 which matures on November 30, 2007 and has closed on a new $250 million Tranche C term loan, which replaces its existing Tranche B term loan.

The Tranche B loan was initially issued for $305 million. Since the beginning of 2002, the Company has prepaid the outstanding balance to $265 million from free cash flow. As part of the closing of the Tranche C loan, the Company will repay the remaining balance of Tranche B with the proceeds from the Tranche C loan, as well as, with $15 million of free cash flow.

Along with a more favorable interest rate on Tranche C, the amendments to the loan agreement includes the modification of various provisions to reflect the Company’s strong operating results.

“Since November 2001, when we completed our Credit Agreement, Advance Auto Parts has produced strong cash flow and has completed a successful secondary offering,” said Jim Wade, the Company’s President and Chief Financial Officer. “We are very pleased that due to our strong financial performance we were able to close on a more advantageous term loan at a favorable rate.”

JP Morgan Securities Inc. was the Sole Lead Arranger and Sole Bookrunner on this transaction.

Advance Auto Parts, Inc. is based in Roanoke, Va., and is the second largest auto parts chain in the nation. With approximately 2,400 stores in 38 states, Puerto Rico and the Virgin Islands, the Company serves both the do-it-yourself and professional installer markets. Additional information about the Company, employment opportunities, services, as well as on-line purchase of parts and accessories can be found on the Company’s web site at www.advanceautoparts.com.

Certain statements contained in this news release are forward-looking statements. These statements discuss, among other things, expected growth, store development and expansion strategy, business strategies, future revenues and future performance. These forward-looking statements are subject to risks, uncertainties and assumptions including, but not limited to, competitive pressures, demand for the Company’s products, the market for auto parts, the economy in general, inflation, consumer debt levels, the weather, and other risk factors listed from time to time in the Company’s filings with the Securities and

Exchange Commission. Actual results may materially differ from anticipated results described in these forward-looking statements.