Dollar General sets talk for $500 million 10-year notes; to price Thursday

By Aleesia Forni

Virginia Beach, Oct. 15 - Dollar General Corp. plans to sell a $500 million issue of senior notes (expected: Baa3/BBB-) due 2025 during Thursday’s session, according to a market source and a 424B2 filing with the Securities and Exchange Commission.

The notes are talked in the range of Treasuries plus 250 basis points to 262.5 bps.

BofA Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC are the joint bookrunners for the deal.

Proceeds from the deal will be used to repay outstanding borrowings under the company’s existing credit facilities and for general corporate purposes.

Together with the note offering, the company intends to refinance its existing credit facilities with a new senior unsecured credit facility consisting of a $425 million five-year term loan facility and a $1 billion five-year cash-flow based revolving credit facility, a company release stated.

Based in Goodlettsville, Tenn., Dollar General is a discount retailer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.