Michaels calls $137 million 11 3/8% subordinated notes due 2016

By Toni Weeks

San Luis Obispo, Calif., Jan. 29 - Michaels Stores, Inc. issued a redemption notice to holders of its outstanding 11 3/8% senior subordinated notes due 2016, according to an 8-K filing with the Securities and Exchange Commission.

The company intends to redeem $137 million of the notes on Feb. 27.

The redemption price will be 103.792 plus accrued interest.

Michaels is an Irving, Texas-based retailer of arts and crafts supplies and home decor products.

© 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.