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Dollar General sets April 27 redemption date for 4.125% notes
New York, March 29 – Dollar General Corp. will redeem all $500 million of its 4.125% senior notes due July 15, 2017 on April 27, according to a notice from the company.
Holders will receive a price of par plus a make-whole premium calculated using a discount rate of Treasuries plus 50 basis points.
In addition, Dollar General will pay accrued interest up to but excluding the redemption date.
Completion of the redemption is subject to the closing of a debt financing.
Dollar General previously said it would use proceeds from an offering of $600 million of new senior notes due 2027 to fund the redemption and then on Tuesday priced those bonds with a 3.875% coupon.
Other proceeds from the new notes will be used for general corporate purposes.
Dollar General is a Goodlettsville, Tenn., discount retailer.
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