HD Supply, Inc. Announces Launch Of Tack-On Offering Notes

HD Supply intends to use the proceeds for general corporate purposes and the entire net proceeds will be applied to reduce outstanding borrowings . . .

HD Supply, Inc. Announces Launch of Proposed Tack-On Offering of Senior Secured Notes

HD Supply, Inc. today announced that it intends to commence a tack-on offering of an additional $200 million aggregate principal amount of its 8⅛% Senior Secured First Priority Notes due 2019. The additional notes will be issued under the indenture pursuant to which HD Supply previously issued $950 million aggregate principal amount of 8⅛% Senior Secured First Priority Notes due 2019, all of which remains outstanding. There can be no assurance that the proposed offering of additional notes will be completed.

HD Supply intends to use the proceeds from the sale of the additional notes for general corporate purposes and, pending such allocation, the entire net proceeds will be applied to reduce outstanding borrowings under its revolving ABL facility.

The additional notes will be offered in a private offering exempt from the registration requirements of the United States Securities Act of 1933, as amended (the “Securities Act”). The additional notes will be offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act.

The additional notes will not be and have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

This press release is for informational purposes only and is not an offer to sell or purchase nor the solicitation of an offer to sell or purchase securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom such an offer, solicitation or sale would be unlawful.

 

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