Staples Begins $2.35 Billion Bond Sale as It Wrangles Debt Load

Staples Inc. is looking to sell $2.35 billion in bonds as the office supply store looks to manage its debt load after proposing a bond swap with creditors.

The Sycamore Partners-backed company is marketing bonds maturing in about 5 years that may yield as much as 10.75%, according to a person familiar with the matter, who asked not to be named because the information is private.

JPMorgan Chase & Co. is leading the sale and an investor call will be held at 11 a.m. on Monday, the person said.

Staples, Sycamore and JPMorgan didn’t immediately respond to requests for ...