Sally Holdings LLC (the “Company”), a wholly-owned subsidiary of
Sally Beauty Holdings, Inc. (NYSE: SBH), today announced that it
intends to sell, in a registered public offering, $750.0 million
aggregate principal amount of Senior Notes due 2025 (the “Senior
Notes”). The Senior Notes will be guaranteed by Sally Beauty
Holdings, Inc., Sally Investment Holdings LLC and the Company’s
domestic subsidiaries who have guaranteed obligations under its
senior secured revolving credit facility and its existing
notes.
The Company intends to use the net proceeds from this offering,
together with cash on hand and/or additional borrowings, to redeem
all $750.0 million aggregate principal amount of its 6.875% senior
notes due 2019 at a redemption premium equal to 103.438% of the
outstanding principal amount being redeemed plus accrued and unpaid
interest to, but not including, the redemption date and to pay fees
and expenses incurred in connection with the offering and the
redemption. The Company expects to complete the redemption on
December 18, 2015, subject to certain conditions, including the
consummation of the offering of the Senior Notes.
BofA Merrill Lynch; J.P. Morgan; Wells Fargo Securities; Credit
Suisse; Deutsche Bank Securities; Goldman, Sachs & Co.; and RBC
Capital Markets are serving as joint book-running managers for the
offering.
A shelf registration statement (including a prospectus and a
preliminary prospectus supplement) relating to the offering has
previously been filed with the Securities and Exchange Commission
and has become effective. Before investing, you should read the
prospectus, the preliminary prospectus supplement and other
documents filed with the Securities and Exchange Commission for
information about the Company and the offering. Copies of the
prospectus and related supplement may be obtained by contacting any
of the joint book-running managers whose contact information is
listed at the bottom of this announcement. You may also obtain
these documents free of charge by visiting the Securities and
Exchange Commission's website at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. This
press release shall not constitute a notice of redemption with
respect to the notes being redeemed.
About Sally Beauty Holdings, Inc.
Sally Beauty Holdings, Inc. is an international specialty
retailer and distributor of professional beauty supplies with
revenues of $3.8 billion annually. Through the Sally Beauty Supply
and Beauty Systems Group businesses, the Company sells and
distributes through 5,000 stores, including approximately 175
franchised units, throughout the United States, the United Kingdom,
Belgium, Chile, Colombia, Peru, France, the Netherlands, Canada,
Puerto Rico, Mexico, Ireland, Spain and Germany. Sally Beauty
Supply stores offer up to 10,000 products for hair, skin, and nails
through professional lines such as Clairol, L’Oreal, Wella and
Conair, as well as an extensive selection of proprietary
merchandise. Beauty Systems Group stores, branded as CosmoProf or
Armstrong McCall stores, along with its outside sales consultants,
sell up to 10,000 professionally branded products including Paul
Mitchell, Wella, Sebastian, Goldwell, Joico, and Aquage which are
targeted exclusively for professional and salon use and resale to
their customers.
Cautionary Notice Regarding Forward-Looking
Statements
Any statements of the Company’s expectations in this press
release constitute “forward-looking statements” as defined in the
Private Securities Litigation Reform Act of 1995. Such statements,
including but not limited to, statements regarding senior notes
offering, are based on currently available information and are
subject to various risks and uncertainties that could cause actual
results to differ materially from the Company’s present
expectations.
Readers are cautioned not to place undue reliance on
forward-looking statements as such statements speak only as of the
date they were made. Any forward-looking statements involve risks
and uncertainties that could cause actual events or results to
differ materially from the events or results described in the
forward-looking statements.
Factors that could cause actual events or results to differ
materially from the events or results described in the
forward-looking statements can be found in our most recent Annual
Report on Form 10-K for the fiscal year ended September 30, 2015,
as filed with the Securities and Exchange Commission. Consequently,
all forward-looking statements in this release are qualified by the
factors, risks and uncertainties contained therein. We assume no
obligation to publicly update or revise any forward-looking
statements.
Joint book-running managers: BofA Merrill Lynch 222 Broadway
New York, NY 10038 Attention: Prospectus Department
Email: dg.prospectus_requests@baml.com
J.P. Morgan c/o Broadridge Financial Solutions 1155 Long
Island Avenue Edgewood, NY 11717 Attention: Post Sale Fulfillment
Telephone: 866-803-9204 Wells Fargo Securities, LLC Attn:
Client Support 608 2nd Avenue South Minneapolis, MN 55402
Telephone:(800) 645-3751 Opt 5
Email:
wfscustomerservice@wellsfargo.com
Credit Suisse Credit Suisse Prospectus Department, One
Madison Avenue New York, New York 10010 Telephone: 1-800-221-1037
Deutsche Bank Securities Inc. 60 Wall Street New York, NY
10005-2836 Attention: Prospectus Group Telephone: 1-800-503-4611
Email: prospectuscpdg@db.com
Goldman, Sachs & Co. Prospectus Department 200 West
Street New York, NY 10282 Telephone: 1-866-471-2526, facsimile:
212-902-9316
Email: prospectus-ny@ny.email.gs.com
RBC Capital Markets Attention: High Yield Capital Markets
Three World Financial Center 200 Vesey Street, 10th Floor New York,
NY 10281 Telephone: 1-877-280-1299
Email: CM-USA-PROSPECTUS@rbc.com
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version on businesswire.com: http://www.businesswire.com/news/home/20151118005974/en/
Sally Beauty Holdings, Inc.Karen Fugate, 940-297-3877
Sally Beauty (NYSE:SBH)
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