Dollar Tree to repay term A-1, B-2 loans via some new notes proceeds

By Wendy Van Sickle

Columbus, Ohio, April 5 – Dollar Tree Inc. plans to repay all of its term loan A-1 loans and all of its term loan B-2 loans with some proceeds of an offering of notes, according to a 424B5 filing with the Securities and Exchange Commission.

The term A-1 loans mature on July 6, 2020 and currently bear interest at Libor plus 150 basis points.

The term B-2 loans mature on July 6, 2022 and currently bear interest at Libor plus 425 bps.

The notes will be sold in three fixed-rate tranches and one floating-rate tranche.

Proceeds will also be used, along with cash on hand and borrowings under new senior credit facilities, to redeem all of Dollar Tree’s 5.75% senior notes due March 1, 2023.

BofA Merrill Lynch, J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the bookrunners for the offering.

Dollar Tree is a Chesapeake, Va.-based discount retailer.

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