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Staples Inc Announces Pricing Of Senior Notes Offering

Monday, 7 Jan 2013 09:00pm EST 

Staples Inc announced that it has priced a previously announced public offering of $500 million aggregate principal amount of its Senior Notes due January 12, 2018, at 2.75% coupon, and $500 million aggregate principal amount of its Senior Notes due January 12, 2023, at 4.375% coupon. Interest on the notes is payable in cash on a semi-annual basis. The offering is expected to close on January 14, 2013, subject to customary closing conditions. Staples expects to receive net proceeds, after the underwriting discount, of approximately $993.8 million. The proceeds from the public offering will be used to fund Staples' previously announced debt tender offer for up to $750 million aggregate principal amount of its outstanding 9.750% Senior Notes due 2014, if consummated, as well as for general corporate purposes. Barclays Capital Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and HSBC Securities (USA) Inc. are acting as joint book-running managers. 

Company Quote

0.16 +0.90%
26 Dec 2014