Business News
Staples, Inc. Announces Pricing of Senior Notes Offering
Wednesday 25. March 2009 - Staples, Inc. (Nasdaq: SPLS) announced today that it has priced a previously announced public offering of $500 million of its senior notes, at 7.75 percent coupon, due April 1, 2011. The offering is expected to close on March 27, 2009, subject to customary closing conditions.
Staples expects to receive net proceeds, after underwriting fees and expenses, of approximately $497.5 million. The proceeds from the public offering will be used to repay StaplesÂ’ outstanding debt related to its commercial paper program, as well as for general corporate purposes.
Barclays Capital Inc., Banc of America Securities LLC and HSBC Securities (USA) Inc. are acting as joint book-running managers.
The offering is being made pursuant to an effective registration statement filed by Staples, Inc. with the Securities and Exchange Commission on December 2, 2008.
The offering of senior notes may be made only by means of a prospectus and prospectus supplement. A copy of the prospectus and prospectus supplement relating to the securities can be obtained from Barclays Capital Inc., (888) 227-2275 ext. 2663; Banc of America Securities LLC, (800) 294-1322; or HSBC Securities (USA) Inc., (866) 811-8049.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, Staples’ senior notes or any other securities, nor shall there be any sale of securities mentioned in this press release in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.