Sally Beauty issues $600 million of 6.75% senior notes due 2032 to redeem 2025 notes
Subsidiaries Sally Holdings LLC and Sally Capital Inc. completed a $600 million offering of 6.75% senior notes maturing March 1, 2032. Proceeds, along with credit facility borrowings and cash on hand, will fund redemption of all $679.96 million of the 5.625% senior notes due 2025 at par plus accrued interest. The refinancing replaces higher-coupon debt with new notes that carry a 2032 maturity, but the filing does not state the resulting interest savings.
- Issuers sold $600 million of 6.75% Senior Notes due March 1, 2032, with interest payable semiannually from September 1, 2024
- Proceeds plus credit facility borrowings and cash on hand will redeem all $679.96 million of 5.625% senior notes due 2025 at 100% of principal
- Holdings may redeem the new notes from March 1, 2027 at 103.375% of principal, declining to 100% by March 1, 2029