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ATLANTA, Aug. 25, 2017 -- HD Supply, Inc. (Nasdaq:HDS) (the “Company”) today announced that pursuant to the consent solicitation commenced August 17, 2017, it has received the consents necessary to effect certain proposed amendments (the “Proposed Amendments”) to amend the Indenture, dated as of April 11, 2016, as amended by the First Supplemental Indenture, dated as of April 11, 2016 (together, the “Indenture”), among the Company, the subsidiary guarantors signatory thereto (the “Subsidiary Guarantors”) and Wells Fargo Bank, National Association, as trustee (the “Trustee”) governing its 5.75% Senior Notes due 2024 (CUSIP Nos. 40415RAR6 and U4047CAJ6) (the “Notes”).
The Company received the consents of holders of a majority of the aggregate principal amount of the Notes prior to 5:00 p.m., New York City time, on August 24, 2017 (the “Expiration Date”). As a result, the Company, the Subsidiary Guarantors, and the Trustee have entered into the Second Supplemental Indenture, dated as of August 25, 2017, which effects the Proposed Amendments to the Indenture.
The Company paid a fee of $15.00 in cash per $1,000.00 principal amount of Notes to all holders that validly delivered and did not validly revoke consents prior to the Expiration Date. Holders of Notes that did not consent prior to the Expiration Date did not receive a consent fee.
About HD Supply
HD Supply, Inc., including its indirect parent HD Supply Holdings, Inc. (together, “HD Supply”) (www.hdsupply.com), is one of the largest industrial distributors in North America. HD Supply provides a broad range of products and value-add services to approximately 500,000 customers with leadership positions in maintenance, repair and operations and specialty construction sectors. Through approximately 260 locations across 36 states and six Canadian provinces, HD Supply’s approximately 11,000 associates provide localized, customer-driven services including jobsite delivery, will call or direct-ship options, diversified logistics and innovative solutions that contribute to its customers’ success.
Investor Contact: Charlotte Mclaughlin HD Supply Investor Relations 770-852-9100 [email protected] Media Contact: Quiana Pinckney, APR HD Supply Public Relations 770-852-9057 [email protected]
