Sally Holdings LLC (the “Company”), a wholly-owned subsidiary of Sally Beauty Holdings, Inc. (NYSE: SBH), today announced that it has commenced and priced an underwritten public offering of $150 million aggregate principal amount of its 5.75% Senior Notes due 2022 (the “Senior Notes”). The Senior Notes are an additional issuance of, will be fully fungible with, rank equally with, and form a single series with the Company’s $700 million 5.75% Senior Notes due 2022 issued on May 18, 2012, and will have the same CUSIP number.
The Senior Notes will bear interest at an annual rate of 5.75% and will be issued at a price equal to 106.25% of the principal amount thereof. The Company expects to close the offering on September 10, 2012, subject to the satisfaction of customary closing conditions.
The Senior Notes will be guaranteed by Sally Beauty Holdings, Inc., Sally Investment Holdings LLC and certain of the Company’s domestic subsidiaries who have guaranteed obligations under its senior credit facility and its senior notes due 2019.
The Company expects that the net proceeds from this offering will be approximately $156.7 million. The proceeds from the offering will be used for general corporate purposes.BofA Merrill Lynch is serving as sole book-running manager for the offering. A shelf registration statement (including a prospectus and a preliminary prospectus supplement) relating to the Senior Notes offering has previously been filed with the Securities and Exchange Commission and has become effective. Before investing, you should read the prospectus, the prospectus supplement and other documents filed with the Securities and Exchange Commission for information about the Company and the offering. Copies of the prospectus and related supplement may be obtained by contacting BofA Merrill Lynch at 222 Broadway, 7th Floor, New York, NY 10038, Attention: Prospectus Department, via telephone: 1-800-294-1322, or by e-mail: firstname.lastname@example.org. You may also obtain these documents free of charge by visiting the Securities and Exchange Commission's website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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