Staples Inc. sold $2.37 billion of bonds and a $1.6 billion loan after sweetening their terms, clearing the way for the office supply retailer to refinance a slug of its debt.
The company sold senior secured notes maturing in five years to yield 11%, according to a person familiar with the matter. The transaction was upsized by $250 million and yield increased slightly from earlier price talk, said the person, who isn’t authorized to speak publicly.
Staples also priced a $1.6 billion leveraged loan, downsized from an initial $1.8 billion, according to a different person with knowledge of the deal. ...
