RH ‘explores’ $300 million five-year convertibles offering

Chicago, Sept. 12 – RH, formerly Restoration Hardware, is intending to “explore a potential offering” of $300 million five-year convertible notes, according to a company news release.

If the company moves forward with the prospective offering, the company will enter into convertible note hedge and warrant transactions.

Proceeds would be used to retire the company’s $200 million outstanding second-lien debt and reduce borrowings under its credit facility.

The notes would be convertible into cash, shares of common stock or a combination of the two.

RH is a Corte Madera, Calif.-based home furnishings company.

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