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Prospect News home > News index > List of issuers T > Headlines for Tenders 2009 > News item |
Dollarama plans to repay 8 7/8% notes, term loan A via IPO proceeds
By Jennifer Chiou
New York, Oct. 9 - Dollarama Inc. announced that it will buy back the 8 7/8% senior subordinated notes due 2012 issued by some of its subsidiaries using the proceeds from its planned C$300 million initial public offering.
Remaining proceeds will go toward repaying the company's term loan A facility.
Dollarama said it filed a prospectus in Canada to issue 17,142,857 common shares at a price to the public of C$17.50 each. There is also a greenshoe for an additional 2,571,428 common shares from certain selling shareholders.
Closing of the IPO is scheduled for Oct. 16.
Dollarama operates discount retail stores and is based in Montreal.
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