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Prospect News home > News index > List of issuers T > Headlines for Tenders 2012 > News item |
Dollar General to redeem all $450.7 million of toggle notes due 2017
By Tali David
Minneapolis, June 15 - Dollar General Corp. plans to redeem all $450.7 million of its 11 7/8%/12 5/8% senior subordinated toggle notes due 2017, according to an 8-K filed with the Securities and Exchange Commission.
The notes will be redeemed at 105.938 plus accrued interest on July 15.
The redemption is conditioned on the receipt of enough proceeds from a debt financing to pay the redemption price. The company may choose to waive this condition and instead use other funds, including borrowings under its senior secured asset-based revolving credit facility, to pay the redemption price.
Dollar General is a Goodlettsville, Tenn.-based discount retailer.
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