Dollar Tree offers senior notes due 2031, 2051; price talk emerges

By Cristal Cody

Chicago, Nov. 29 – Dollar Tree Inc. is in the market with a two-part offering of fixed-rate senior notes, according to a 424B2 filing with the Securities and Exchange Commission on Monday.

Price talk for a tranche due Dec. 1, 2031 is in the Treasuries plus 130 basis points area, and talk for a tranche maturing Dec. 1, 2051 is in the Treasuries plus 165 bps area, a market source told Prospect News.

The notes will be optionally redeemable with a make-whole premium until a specified par call date for each series.

If there is a change of control, Dollar Tree will need to make an offer to repurchase the notes at 101.

BofA Securities, Inc. and J.P. Morgan Securities LLC are the joint bookrunners.

U.S. Bank, NA is the trustee.

Wachtell, Lipton, Rosen & Katz is advising the issuer, and Williams Mullen is providing opinions relating to Virginia law.

Proceeds, with cash on hand, will be used to redeem the company’s existing 2023 senior notes, with any remaining amounts used for general corporate purposes.

Dollar Tree is a Chesapeake, Va.-based discount variety store retailer.

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