Staples, Inc. (Nasdaq: SPLS) announced today 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 percent coupon, and $500 million aggregate principal amount of its Senior Notes due January 12, 2023, at 4.375 percent 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.
The public offering is being made pursuant to an effective shelf registration statement on file with the U.S. Securities and Exchange Commission.The offering of Senior Notes may be made only by means of a prospectus and prospectus supplement. A copy of the prospectus and prospectus supplement relating to the Senior Notes can be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, via telephone at 1-888-603-5847 or by emailing Barclaysprospectus@broadridge.com; Deutsche Bank Securities Inc., attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, via telephone at 1-800-503-4611 or by emailing email@example.com; or J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, attention: Investment Grade Syndicate Desk, or via telephone at 1-212-834-4533. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, Staples’ Senior Notes or any other securities, nor shall there be any sale of securities mentioned in this press release in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV