Family Dollar prices $300M in senior notes
Published: January 26, 2011
Time posted: 3:41 pm
Tags: Family Dollar Stores
Matthews-based Family Dollar Stores said today that is has priced $300 million of senior unsecured notes due in 2021 with a 5 percent coupon.
The offering marks the first time the company has accessed public debt markets, the company said.
FDS plans to use the net proceeds of the offering toward funding its $750 million share-repurchase program and for general corporate purposes.
In association with the bond offering, FDS said it received stable ratings of BBB- and Baa3 from Standard & Poor’s and Moody’s, respectively.