HD Supply Prices $950M Notes Offering
ATLANTA--(BUSINESS WIRE)--HD Supply, Inc. announced that it has priced a private offering of $950,000,000 of 10.50% Senior Subordinated Notes due 2021 (the “Notes”). The offering of Notes is expected to close on January 16, 2013 and is subject to customary closing conditions.
HD Supply intends to use the proceeds from the sale of the Notes to redeem all of its outstanding 13.5% Senior Subordinated Notes due 2015 at a price of 103.375% plus accrued and unpaid interest thereon to the redemption date and (together with cash on hand) to pay related fees and expenses. HD Supply issued today a Notice of Conditional Full Redemption for the Senior Subordinated Notes. The redemption date is anticipated to be February 8, 2013 and the redemption of the Senior Subordinated Notes is conditioned primarily on the closing of the offering of Notes.