Staples to Swap, Redeem Notes as it Seeks to Refinance Debt (1)

Staples, Inc. is exchanging notes due in three years with a longer-dated bonds and buying back some of its debt as it seeks to refinance existing liabilities.

The Sycamore Partners-backed office supply chain plans to swap the debt due in April 2027 with new paper maturing in 2030, according to a filing Thursday in the US. It also plan to repay and redeem existing term loan credit facility and senior secured notes due in 2026.

The company is offering two options for holders under its early exchange plan, expires at 5pm New York time on May 22. The first ...