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HD Supply calls 7˝% senior notes due 2020
New York, Sept. 12 – HD Supply, Inc. announced that it will redeem all $1,275,000,000 of its 7˝% senior notes due 2020.
The company will pay 103.75% of par plus accrued interest, according to an 8-K filing with the Securities and Exchange Commission.
Funding will come from a $550 million incremental term loan B, $600 million of borrowings from the company’s asset-based revolver and $228 million of cash from the balance sheet.
The call is conditional on completion of a financing.
The filing said that the notice of redemption was issued on Sept. 12 and that the notes will be repaid during the week of Oct. 17 but did not give an exact date.
HD Supply is an Atlanta-based industrial distributor.
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