STAPLES NEEDS TO BORROW $500Million !

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STAPLES NEEDS TO BORROW $500Million !

 user 2009-04-03 at 12:40:33 pm Views: 95
  • #22008

    http://www.forbes.com/feeds/ap/2009/03/24/ap6207370.html
    Staples plans public offering of senior notes
    Staples Inc. said Tuesday that it plans to make a public offering of $500 million of its senior notes to repay company debt.The office supply company said it plans sell the notes at a 7.75 percent coupon due April 1, 2011Staples  said the offering is expected to close on March 27. The Framingham, Mass.-based company said it expects to see $497.5 million in proceeds from the offering. It plans to use the proceeds to repay its outstanding debt related to its commercial paper program, as well as for general corporate purposes.Barclays Capital Inc., Banc of America Securities and HSBC Securities are acting as joint bookrunning managers.Shares of the company fell 40 cents, or 2.2 percent, to close at $17.64.