- Sally, wholly-owned subsidiary of Sally Beauty Holdings (NYSE:SBH), announced that it has withdrawn its earlier announced proposed registered public offering of $780M principal amount of Senior Notes due 2030 as a result of market conditions.
- "This transaction was opportunistic in nature, and we approached the market as a means to refinance our existing 5.625% senior notes due 2025 at a much lower rate," CFO Marlo Cormier commented.
- The company states that current terms and conditions available in the market were not sufficiently attractive for it to move forward with the transaction at this time.
- Also, related to the withdrawal the company delivered a notice to the trustee for the 2025 Notes informing the trustee that all of the conditions prior to completion of redemption of the 2025 Notes have not been, and will not be, satisfied by the Dec.13 redemption date.