Dollar Tree Announces Pricing of $1.2 Billion in Senior Notes
November 29 2021 - 6:04PM
Business Wire
Dollar Tree, Inc. (NASDAQ: DLTR) (the “Company”) today announced
that it has priced a public offering (the “Offering”) of $1.2
billion of its senior notes, consisting of $800 million aggregate
principal amount of its 2.650% Senior Notes due 2031 (the “2031
Notes”) and $400 million aggregate principal amount of its 3.375%
Senior Notes due 2051 (the “2051 Notes” and, together with the 2031
Notes, the “Notes”). The 2031 Notes and the 2051 Notes will bear
interest at a rate of 2.650% and 3.375% per annum,
respectively.
The Company expects to use the proceeds of the Offering to
redeem its outstanding 3.700% Senior Notes due 2023 (the “Existing
Notes”), with any remaining amounts to be used for general
corporate purposes, which may include repurchases of the Company’s
common stock. The Offering is expected to close on December 1,
2021, subject to customary closing conditions.
BofA Securities, Inc. and J.P. Morgan Securities LLC are serving
as joint book-running managers for the Offering.
The Notes are being offered pursuant to a shelf registration
statement (including a base prospectus) that has been filed with
the U.S. Securities and Exchange Commission (the “SEC”). A
preliminary prospectus supplement relating to the Offering was
filed with the SEC on November 29, 2021. The final prospectus
supplement relating to, and describing the terms of, the Offering
will be filed with the SEC and will be available on the SEC website
at www.sec.gov.
Copies of the prospectus supplement and accompanying base
prospectus relating to the Offering may be obtained from: BofA
Securities, Inc., 200 North College Street, NC1-004-03-43,
Charlotte, NC 28255-0001, Attn: Prospectus Department, Toll-free:
1-800-294-1322, Email: dg.prospectus_requests@bofa.com or J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, Attn:
Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717,
or by telephone: 1-866-803-9204.
Formal Notice of Redemption and Other
Information
A conditional notice of redemption setting forth the redemption
procedures for the Existing Notes has been provided to holders of
the Existing Notes through the Depository Trust Company. Copies of
the notice of redemption and additional information relating to the
procedures for redemption may be obtained from the trustee for the
Existing Notes, U.S. Bank National Association, 1-800-934-6802.
This press release does not constitute a redemption notice for the
Company’s 3.700% Senior Notes due 2023. This press release is not
intended to and does not constitute an offer to sell or the
solicitation of an offer to subscribe for or buy or an invitation
to purchase or subscribe for any securities, nor shall there be any
sale, issuance or transfer of securities in any jurisdiction in
contravention of applicable law. No offer of securities shall be
made except by means of a prospectus meeting the requirements of
Section 10 of the Securities Act of 1933, as amended.
About Dollar Tree, Inc.
Dollar Tree, a Fortune 200 Company, operated more than 15,900
retail discount stores in 48 states and five Canadian provinces as
of October 30, 2021. Stores operate under the brands of Dollar
Tree, Family Dollar and Dollar Tree Canada.
Forward-Looking
Statements
A WARNING ABOUT FORWARD-LOOKING STATEMENTS: This press release
contains “forward-looking statements” as that term is used in the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by the fact that they address future
events, developments and results and do not relate strictly to
historical facts. Any statements contained herein that are not
statements of historical facts may be deemed to be forward-looking
statements. Forward-looking statements include, without limitation,
statements preceded by, followed by or including words such as
“believe,” “anticipate,” “expect,” “intend,” “plan,” “view,”
“target” or “estimate,” “may,” “will,” “should,” “predict,”
“possible,” “potential,” “continue,” “strategy,” and similar
expressions. For example, our forward-looking statements include
statements regarding our plans and expectations concerning the
Offering and our use of proceeds from the Offering; and our other
plans, objectives, expectations (financial and otherwise) and
intentions. These statements are subject to risks and
uncertainties. For a discussion of the risks, uncertainties and
assumptions that could affect our future events, developments or
results, you should carefully review the “Risk Factors,” “Business”
and “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” sections in our Annual Report on Form
10-K filed March 16, 2021, our Form 10-Q for the most recently
ended fiscal quarter and other filings we make from time to time
with the SEC. We are not obligated to release publicly any
revisions to any forward-looking statements contained in this press
release to reflect events or circumstances occurring after the date
of this press release and you should not expect us to do so.
DLTR-G
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version on businesswire.com: https://www.businesswire.com/news/home/20211129005765/en/
Investors: Dollar Tree, Inc.
Randy Guiler, 757-321-5284 Vice President, Investor Relations
www.DollarTree.com
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