Sally Beauty Holdings Successfully Concludes a $600 Million Senior Notes Offering with Maturity in 2032

Sally Holdings LLC (“Holdings”) and Sally Capital Inc., both wholly-owned subsidiaries of Sally Beauty Holdings, Inc. (the “Company”) (NYSE: SBH), have officially completed a registered public offering, securing $600.0 million in aggregate principal amount for Senior Notes due in 2032 (the “Senior Notes”). The Company, Sally Investment Holdings LLC, and specific other domestic subsidiaries of the Company guarantee these Senior Notes.

The net proceeds from this offering, along with funds from existing senior secured credit facilities and available cash, will be utilized by the Issuers to redeem all outstanding $679.96 million aggregate principal amount of their senior unsecured notes due in 2025. The redemption will occur at a price equal to 100.00% of the principal amount being redeemed, plus accrued and unpaid interest up to the redemption date. The anticipated completion date for this redemption is on or about March 13, 2024.

Joint book-running managers for the offering were BofA Securities, J.P. Morgan, and Truist Securities.

The Securities and Exchange Commission (SEC) had previously approved a shelf registration statement related to this offering, which became effective immediately upon filing. Before making any investment decisions, interested parties are advised to review the prospectus, prospectus supplement, and other SEC-filed documents for comprehensive information about the Company and the offering. Copies of these documents can be obtained by contacting any of the joint book-running managers, as listed at the bottom of this announcement. Alternatively, the SEC’s website at offers these documents free of charge.

It is important to note that this press release is not an offer to sell or a solicitation of an offer to buy securities, and there will be no sale of these securities in any jurisdiction where such an offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of that jurisdiction. Additionally, this press release does not serve as a notice of redemption for the notes being redeemed.

Source Link