Company: ORLY
Filing Date: 2025-04-01
Form Type: 8-K
Source: 0001104659-25-030592
Chunk: 0

Company: O REILLY AUTOMOTIVE INC
Filing Date: 2025-04-01
Form: 8-K
Item: Item 1.01
Chunk 0
---
Item
1.01

– Entry into a Material Definitive Agreement

On March 31, 2025, O’ Reilly Automative, Inc.
(the “ Company”) entered into the First Amended and Restated Credit Agreement (the “ Amended and Restated Credit
Agreement”), which amends and restates the Company’s Credit Agreement, dated as of June 15, 2021, among the Company,
the lenders party thereto from time to time and JPMorgan Chase Bank, N. A., in its capacity as administrative agent.

The Amended and Restated Credit Agreement provides
for, among other things, a five-year $2.25 billion unsecured revolving credit facility (the “ Revolving Credit Facility”),
which is scheduled to mature in March of 2030. The Amended and Restated Credit Agreement includes a $200 million sub-limit for
the issuance of letters of credit and a $75 million sub-limit for swing line borrowings under the Revolving Credit Facility. As described
in the Amended and Restated Credit Agreement governing the Revolving Credit Facility, the Company may, from time to time, subject to certain
conditions, increase the aggregate commitments under the Revolving Credit Facility by up to $900 million, provided that the aggregate
amount of the commitments does not exceed $3.15 billion at any time.

Borrowings under the Revolving Credit Facility
(other than swing line loans) bear interest, at the Company’s option, at either an Alternate Base Rate or an Adjusted Term SOFR
Rate (both as defined in the Credit Agreement) plus an applicable margin, which will vary from 0.000% to 0.050% (in the case of loans
bearing interest at the Alternate Base Rate) and 0.680% to 1.075% (in the case of loans bearing interest at the Adjusted Term SOFR Rate),
in each case based upon the better of the ratings assigned to our debt by Moody’s Investor Service, Inc. and Standard &
Poor’s Rating Services, subject to limited exceptions. Swing line loans made under the Revolving Credit Facility bear interest at
an Alternate Base Rate plus the applicable margin for Alternate Base Rate loans. In addition, the Company pays a facility fee on the aggregate
amount of the commitments under the Credit Agreement in an amount equal to a percentage of such commitments, varying from 0.070% to 0.175%
per annum, in each case based upon the better of