AutoZone selling $500 million 10-year senior notes Thursday

By Andrea Heisinger

New York, April 18 - AutoZone, Inc. is expected to price $500 million of 10-year senior notes Thursday, according to a market source and a 424B5 filing with the Securities and Exchange Commission.

There is a do-not-grow provision on the trade, the source said.

The bonds have a change-of-control put at 101%.

BofA Merrill Lynch, Barclays and SunTrust Robinson Humphrey Inc. are the bookrunners.

Proceeds will be used for general corporate purposes.

The Memphis-based automotive parts retailer was last in the U.S. bond market with a $300 million sale of 2.875% 10-year notes priced at 120 basis points over Treasuries on Nov. 1, 2012.

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