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HD Supply Holdings, Inc. Prices Initial Public Offering Of Common Stock

ATLANTA, June 27, 2013 (GLOBE NEWSWIRE) -- HD Supply Holdings, Inc., the indirect parent of HD Supply, Inc., today announced that it has priced an initial public offering of 53,191,489 shares of common stock at $18.00 per share. The shares are expected to begin trading on the NASDAQ Global Select Market on June 27, 2013 under the ticker symbol "HDS." The underwriters have been granted a 30-day option to purchase from the company up to an additional 7,978,723 shares of common stock. If the underwriters do not exercise their option to purchase additional shares, the company intends to use the net proceeds of the offering (i) to redeem, repurchase or otherwise acquire or retire (a) approximately $633 million of the outstanding 10.50% Senior Subordinated Notes due 2021 and (b) $185 million of the outstanding 11.50% Senior Notes due 2020, of HD Supply, Inc. and (ii) to pay transaction fees and other expenses. Alternatively, if the underwriters exercise their option to purchase additional shares such that the company receives sufficient net proceeds from the offering to permit the company to redeem, repurchase or otherwise acquire or retire all $950 million of the outstanding 10.50% Senior Subordinated Notes due 2021, the company intends to instead use the net proceeds from this offering, together with available cash if necessary, to (a) redeem, repurchase or otherwise acquire or retire all of the outstanding 10.50% Senior Subordinated Notes due 2021 and (b) pay transaction fees and other expenses.

The offering is being made through an underwriting group led by BofA Merrill Lynch, Barclays Capital Inc., J.P. Morgan Securities LLC, and Credit Suisse (USA) LLC, which are acting as lead book-running managers. Additional book-running managers are Citigroup, Deutsche Bank Securities, Goldman, Sachs & Co., Morgan Stanley, UBS Investment Bank, and Wells Fargo Securities. Robert W. Baird & Co. Incorporated, William Blair & Company, L.L.C., Raymond James & Associates, Inc., BB&T Capital Markets, a division of BB&T Securities, LLC, SunTrust Robinson Humphrey, Inc., Drexel Hamilton, LLC, and Guzman & Company are also acting as managing underwriters of the offering.

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