Sally Beauty rescinds redemption notice for notes due 2025

By Mary-Katherine Stinson

Lexington, Ky., Dec. 9 – Sally Beauty Holdings, Inc. announced that its wholly owned subsidiaries, Sally Holdings LLC and Sally Capital Inc., have withdrawn a conditional notice of redemption regarding their plans to redeem $679,961,000 5 5/8% senior notes due 2025, according to an 8-K filing with the Securities and Exchange Commission.

The redemption was subject to the satisfaction of or waiver of the company’s completion of one or more debt refinancing options in amount equal to the full redemption payment.

On Dec. 8, the company announced a public offering of senior notes due 2030.

However, citing market conditions, the company withdrew the offer on Dec. 9.

On Thursday, the redemption notice was rescinded as the conditions will not be satisfied by the planned redemption date of Dec. 13.

Sally Beauty is a Denton, Tex.-based specialty retailer and distributor of professional beauty supplies.

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