- Sally Holdings, a wholly-owned subsidiary of Sally Beauty Holdings (NYSE:SBH), plans to sell $780M aggregate principal amount of its Senior Notes due 2030 in a registered public offering.
- Shares are trading +2.24% pre-market
- The notes will be guaranteed by SBH, Sally Investment Holdings and the company’s domestic subsidiaries.
- Net proceeds will be used to redeem the entire $679.96M aggregate principal amount of the firm's 5.625% senior notes due 2025 which remain outstanding. The 2025 Notes will be redeemed at a redemption premium equal to 101.875% of the principal amount being redeemed plus accrued and unpaid interest to, but not including, the redemption date.
- The redemption is expected to complete on December 13, 2021.