Dollar General Corporation Announces Pricing of $500.0 Million of Senior Notes
Thu, 15 Oct 2015
GOODLETTSVILLE, Tenn.--(BUSINESS WIRE)--
Dollar General Corporation (NYSE:DG) (the “Company”) today announced the
pricing of an offering of $500.0 million of its 4.150% Senior Notes due
2025 (the “Notes”). The Notes will pay interest at a rate of 4.150% per
annum and mature on November 1, 2025. Dollar General will pay interest
on the Notes semi-annually on May 1 and November 1 of each year,
commencing May 1, 2016. Issuance of the Notes is expected to occur on
October 20, 2015, subject to customary closing conditions.
Concurrently with the issuance of the Notes, the Company expects to
refinance its existing credit facilities with new senior unsecured
credit facilities consisting of a $425.0 million five-year term loan
facility and a $1.0 billion five-year cash-flow based revolving credit
facility. The offering of the Notes is not conditioned upon completion
of the new credit facilities and related refinancing.
The Company will use the net proceeds from the sale of the Notes,
together with term loan borrowings and revolving loan borrowings under
its new senior unsecured credit facilities, to repay all of the
outstanding borrowings under the existing senior unsecured credit
facilities and for general corporate purposes.
Citigroup Global Markets Inc., Goldman, Sachs & Co., Merrill Lynch,
Pierce, Fenner & Smith Incorporated, U.S. Bancorp Investments, Inc. and
Wells Fargo Securities, LLC are serving as joint book-running managers
for the offering. BBVA Securities Inc., Fifth Third Securities, Inc.,
J.P. Morgan Securities LLC, Mizuho Securities USA Inc., PNC Capital
Markets LLC and Regions Securities LLC are serving as senior co-managers
for the offering. BB&T Capital Markets, a division of BB&T Securities,
LLC, Capital One Securities, Inc. and Keybanc Capital Inc. are serving
as co-managers of the offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor will there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or other
jurisdiction. Copies of the prospectus and related supplement may be
obtained by contacting any of those joint book-running managers whose
contact information is listed at the bottom of this announcement.
About Dollar General Corporation
Dollar General Corporation has been delivering value to shoppers for
more than 75 years. Dollar General helps shoppers Save time. Save money.
Every day!(R) by offering products that are frequently used and
replenished, such as food, snacks, health and beauty aids, cleaning
supplies, clothing for the family, house wares and seasonal items at low
everyday prices in convenient neighborhood locations. Dollar General
operates 12,198 stores in 43 states as of July 31, 2015. In addition to
high quality private brands, Dollar General sells products from
America’s most-trusted manufacturers such as Clorox, Energizer, Procter
& Gamble, Hanes, Coca-Cola, Mars, Unilever, Nestle, Kimberly-Clark,
Kellogg’s, General Mills and PepsiCo.
