LKQ Corporation announced that it closed an amendment to its credit facility that increased the aggregate amount available thereunder from $1.8 billion to $2.3 billion ($1.85 billion revolving credit facility and $450 million term loan facility). The amendment extended the maturity date of the facility from May 3, 2018 to May 3, 2019, and increased the flexibility of certain restrictive covenants, including provisions relating to restricted payments and additional indebtedness. The amendment also reduces borrowing costs under the credit facility by between 25 and 50 basis points (depending on the Company's leverage) compared to the prior agreement.

"We appreciate the ongoing support of our lending group and their recognition of the company's history of consistent financial and operational performance. This amended credit facility provides us with the increased liquidity and the financial flexibility to continue our long-term growth strategy," stated John Quinn, Executive Vice President and Chief Financial Officer of LKQ Corporation.

The company indicated that as of December 31, 2013 on a pro-forma basis (after giving effect to the acquisition of Keystone Automotive Operations on January 3, 2014 and the credit facility amendment), total availability under the Company's credit facility and asset securitization program would have been approximately $1.2 billion.

Wells Fargo Securities, LLC served as Left Lead Arranger and Left Bookrunner on the credit facility. Merrill Lynch, Pierce, Fenner & Smith Incorporated, The Bank of Tokyo-Mitsubishi UFJ, LTD. and RBS Citizens, N.A. acted as Joint Lead Arrangers and Joint Bookrunners.

Wells Fargo Bank, National Association, will serve as the Administrative Agent, Bank of America, N.A., as Syndication Agent and The Bank of Tokyo-Mitsubishi UFJ, LTD and RBS Citizens, N.A. as Co-Documentation Agents with respect to the amended credit facility.

LKQ Corporation is North America's largest provider of alternative collision parts, and a leading provider of recycled and remanufactured mechanical parts including engines and transmissions, all in connection with the repair of automobiles and other vehicles.