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Dollar General Corp Announces Pricing of $1.3 Billion of Senior Notes

Monday, 8 Apr 2013 04:14pm EDT 

Dollar General Corp announced the pricing of an offering of $400.0 million of its 1.875% Senior Notes due 2018 (the 2018 Notes) and $900.0 million of its 3.25% Senior Notes due 2023 (the 2023 Notes and together with the 2018 Notes, the Notes). The 2018 Notes will pay interest at a rate of 1.875% per annum and mature on April 15, 2018. The 2023 Notes will pay interest at a rate of 3.25% per annum and mature on April 15, 2023. Dollar General will pay interest on the Notes semi-annually on April 15 and October 15 of each year, commencing October 15, 2013. Issuance of the Notes is expected to occur on April 11, 2013. The Company will use the net proceeds from the sale of the Notes, together with term loan borrowings under its new senior unsecured credit facilities, to repay all of the outstanding borrowings under the existing senior secured credit facilities, to pay related fees and expenses and for general corporate purposes. BofA Merrill Lynch, Citigroup, Goldman, Sachs & Co., J.P. Morgan, US Bancorp and Wells Fargo Securities are serving as joint book-running managers for the offering, with Fifth Third Securities, Inc., KKR and Regions Securities LLC acting as senior co-managers and BB&T Capital Markets, HSBC, KeyBanc Capital Markets, Mizuho Securities and PNC Capital Markets LLC acting as co-managers. 

Company Quote

1.57 +2.62%
20 Oct 2014