Staples, Inc. Announces Tender Offer For Up To $750 Million Of Its 9.750% Senior Notes Due 2014
Staples, Inc. (Nasdaq: SPLS) announced today that it plans to reduce its interest expense and increase its financial flexibility through a tender offer to purchase for cash up to $750 million in aggregate principal amount (the “Maximum Tender Amount”) of its outstanding 9.750% Senior Notes due 2014 (the “Notes”). The tender offer is being made upon, and is subject to, the terms and conditions set forth in the Offer to Purchase, dated January 7, 2013 (the “Offer to Purchase”) and the related Letter of Transmittal.
The following table sets forth some of the terms of the tender offer, which are more fully set forth in the Offer to Purchase and Letter of Transmittal:
| Title of Security | CUSIP Number | Principal Amount Outstanding | Maximum Tender Amount | Reference U.S. Treasury Security | Bloomberg Reference Page | Fixed Spread | Early Tender Premium (1) | Hypothetical Total Consideration | ||||||||||||||||||||||||
| 9.750% Senior Notesdue 2014 | 855030AJ1 | $1,500,000,000 | $750,000,000 | 1.00% U.S. Treasury Notedue January 15, 2014 | BBT4 | 50 bps | $30.00 | $1,088.48 (2) |
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