E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 10/10/2012 in the Prospect News High Yield Daily and Prospect News Liability Management Daily.

HD Supply discloses redemption amount and price for 13½% notes

By Marisa Wong

Madison, Wis., Oct. 10 - HD Supply, Inc. will redeem $930 million of its outstanding 13½% senior subordinated notes due 2015 on Nov. 8, according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed at 103.375% of par plus accrued interest.

The redemption is subject to certain conditions, including the issuance or borrowing of $1 billion total of new debt. The company may delay the redemption if those conditions are not satisfied by the redemption date and will cancel the redemption if the conditions are not met by Dec. 10.

The company said in a Tuesday news release that it planned to use proceeds from its $750 million offering of senior notes due 2020 to help fund the redemption.

HD Supply is an Atlanta-based wholesale distributor for the infrastructure and energy, maintenance, repair and improvement and specialty construction sectors.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.