SPRINGFIELD, Mo. -- O'Reilly Automotive announced today that its subsidiary, CSK Auto, will redeem for cash any and all of the 6 ¾ percent Exchangeable Senior Notes due 2025.

In connection with its acquisition of CSK in 2008, O'Reilly agreed to guarantee the notes, on a subordinated basis, and to issue shares of O'Reilly common stock, if any, upon any exchange of the principal amount of the notes. The notes were originally issued by CSK on Dec. 19, 2005, and $89 million of the aggregate principal amount remains outstanding.

The redemption date for the notes will be Dec. 21, and the redemption price will be 100 percent of the principal amount thereof, plus any accrued and unpaid interest up to, but not including, the redemption date.

As a result of the notes being called for redemption, the notes will be exchangeable at any time prior to 5 p.m., New York City time, on Dec. 17, the second Trading Day (as defined in the indenture) preceding the redemption date, unless the redemption price fails to be paid.

Each note surrendered for exchange is expected to be settled with cash in an amount equal to $1,000 and shares of O'Reilly common stock in excess thereof, subject to the terms of the indenture.