Sally Beauty Wraps Up $600M Senior Notes Offering Due 2032

Sally Beauty Holdings, Inc. (NYSE: SBH) has announced the successful completion of a registered public offering of $600 million in Senior Notes due 2032 by its wholly-owned subsidiaries, Sally Holdings LLC and Sally Capital Inc. These Senior Notes are guaranteed by the Company, Sally Investment Holdings LLC, and certain other domestic subsidiaries.

The net proceeds from this offering, combined with borrowings under existing senior secured credit facilities and cash reserves, will be utilized by the Issuers to redeem all outstanding $679.96 million aggregate principal amount of senior unsecured notes due 2025. This redemption will be executed at a price equal to 100.00% of the principal amount being redeemed, plus accrued and unpaid interest up to the redemption date, with completion expected on or around March 13, 2024.

BofA Securities, J.P. Morgan, and Truist Securities acted as joint book-running managers for the offering.

The offering was made under a shelf registration statement previously filed with the Securities and Exchange Commission (SEC), which became effective immediately upon filing. Potential investors are encouraged to review the prospectus, prospectus supplement, and other SEC filings for comprehensive information about the Company and the offering. These documents can be obtained from the joint book-running managers or accessed free of charge on the SEC’s.

It’s important to note that this press release does not constitute an offer to sell or a solicitation of an offer to buy securities, nor does it imply any sale of these securities in jurisdictions where such an offer, solicitation, or sale would be unlawful prior to registration or qualification under applicable securities laws. Additionally, this press release does not serve as a notice of redemption for the notes being redeemed.

Source Link