Date: Friday April 3, 2009 12:41:02 pm
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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.
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