Dollar General Corporation (DG) said this week it had priced an offering of $500,000,000 of its Senior Notes due 2028 and $1,000,000,000 of its Senior Notes due 2033.
The 2028 notes will pay interest at a rate of 5.200% per year and mature on July 5th 2028.
The 2033 notes will pay interest at a rate of 5.450% per year and mature on July 5th 2033.
The company also said it would pay interest on the notes semi-annually – on January 5th and July 5th of each year – starting on January 5th 2024.
The net proceeds from the sale will be used by Dollar General to reduce its commercial paper notes outstanding and for general corporate purposes.
BofA Securities Inc, Citigroup Global Markets Inc, Goldman Sachs & Co LLC, U.S. Bancorp Investments Inc, Wells Fargo Securities LLC and J.P. Morgan Securities LLC served as joint book-running managers for the offering, Dollar General said.
Meanwhile, BMO Capital Markets Corp, Fifth Third Securities Inc, Regions Securities LLC and Truist Securities Inc served as senior co-managers for the offering.
The shares of Dollar General Corporation closed 1.11% ($1.76) lower at $157.11 in New York on Tuesday, while extending the loss from the previous market session.
The discount retailer’s total market cap now stands at $34.461 billion.
The shares of Dollar General Corporation went up 4.42% in 2022, compared with a 19.44% loss for the benchmark index, S&P 500 (SPX).
The company’s shares have retreated 36.20% so far this year.
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