Office Depot Announces Redemption of 9.75% Senior Secured Notes Due 2019
August 03 2016 - 6:50AM
Business Wire
Office Depot, Inc. (NASDAQ: ODP) today announced it intends to
call its 9.75% Senior Secured Notes due 2019 (the “Notes”) for
redemption on September 15, 2016. The Notes will be redeemed for
cash at a price equal to 104.875% of the principal amount of the
Notes plus accrued and unpaid interest up to, but excluding, the
redemption date (the “Redemption Price”). The aggregate principal
outstanding of the Notes is $250,000,000.
From the redemption date forward, the Notes will no longer be
deemed outstanding, interest will no longer accrue and holders will
have no rights other than the right to receive the Redemption
Price, without interest, upon surrender of the Notes. Payment of
the Redemption Price will be made only upon presentation and
surrender of the Notes to U.S. Bank, National Association, the
trustee and paying agent, during its business hours at the address
specified in the Notice of Redemption. The Notice of Redemption is
expected to be mailed to holders of the Notes on or about August
10, 2016.
Questions regarding the Notice of Redemption should be directed
to U.S. Bank, National Association, Bondholder Services at
1-800-934-6802 between the hours of 8:00 AM and 6:00 PM CST Monday
through Friday, or visit their website at
www.usbank.com/corporatetrust and click on the “Bondholder
Information” link.
This press release is not an offer to sell or a solicitation of
an offer to buy any securities.
About Office Depot, Inc.
Office Depot, Inc. is a leading global provider of products,
services, and solutions for every workplace – whether your
workplace is an office, home, school or car.
Office Depot, Inc. is a resource and a catalyst to help
customers work better. We are a single source for everything
customers need to be more productive, including the latest
technology, core office supplies, print and document services,
business services, facilities products, furniture, and school
essentials.
The Company has annual sales of approximately $14 billion,
employs approximately 49,000 associates, and serves consumers and
businesses in 59 countries with approximately 1,800 retail stores,
award-winning e-commerce sites and a dedicated business-to-business
sales organization – all delivered through a global network of
wholly owned operations, franchisees, licensees and alliance
partners. The Company operates under several banner brands
including Office Depot, OfficeMax, Grand & Toy, and Viking. The
company’s portfolio of exclusive product brands include TUL, Foray,
Brenton Studio, Ativa, WorkPro, Realspace and HighMark.
Office Depot, Inc.’s common stock is listed on the NASDAQ Global
Select Market under the symbol “ODP”. Additional press information
can be found at: http://news.officedepot.com.
All trademarks, service marks and trade names of Office Depot,
Inc. and OfficeMax Incorporated used herein are trademarks or
registered trademarks of Office Depot, Inc. and OfficeMax
Incorporated, respectively. Any other product or company names
mentioned herein are the trademarks of their respective owners.
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version on businesswire.com: http://www.businesswire.com/news/home/20160803005414/en/
Office Depot, Inc.Richard Leland, 561-438-3796Investor
RelationsRichard.Leland@officedepot.comorKaren Denning,
630-438-7445Media RelationsKaren.Denning@officedepot.com
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