Distributors

HD Supply Redeems $1.275 Billion Outstanding Senior Notes

HD Supply Redeems $1.275 Billion Outstanding Senior Notes


ATLANTA — HD Supply Holdings, Inc. announced that its indirect wholly-owned subsidiary, HD Supply, Inc. (“HD Supply”), has redeemed all of its outstanding $1,275 million 7.50% Senior Notes due 2020 using proceeds from the completion of an amendment to its Senior Secured Term Loan Facility together with cash on hand and borrowings under its Senior Asset Based Lending Facility.  The redemption amount of approximately $1,323 million included a call premium of approximately $47.8 million.  The reduction in future interest expense is expected to be approximately $65 million annually.  The Company’s Net Debt to Adjusted EBITDA leverage ratio as of July 31, 2016 is 4.5x adjusted for this redemption of the 7.50% Senior Notes.

 

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