HD Supply files IPO
HD Supply Holdings has filed with the Securities and Exchange Commission for an initial public offering of 53.1 million shares of common stock.
The company expects to grant the underwriters a 30-day option to purchase up to an additional 7.9 million shares. The initial public offering price is currently expected to be between $22 and $25 per share. The company intends to use the net proceeds of the offering to retire $950 million of the outstanding 10.50% Senior Subordinated Notes due 2021 and a portion of the outstanding 11.50% Senior Notes due 2020.
The offering is being made through an underwriting group led by BofA Merrill Lynch,
Barclays Capital Inc., J.P. Morgan Securities LLC, and Credit Suisse (USA) LLC, who
are acting as lead book-running managers.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
