99 Cents Only Stores LLC (the "
Company") today announced that 99 Escrow Issuer, Inc. (the "
Escrow Issuer") intends to offer, subject to market conditions and other considerations, $325 million in aggregate principal amount of senior secured notes due 2025 (the "
Notes") to "qualified institutional buyers" (as defined in Rule 144A under the Securities Act of 1933, as amended (the "
Securities Act")) in a private transaction (the "
Notes Offering") in reliance upon the exemption from the registration requirements of the Securities Act and certain non-U.S. persons outside the United States in accordance with Rule 902 under the Securities Act. The Escrow Issuer was formed solely for the purpose of issuing the Notes and, following the escrow release, will be merged with and into the Company and the Company will assume the obligations of the Escrow Issuer under the Notes and the related indenture. On and after the escrow release, the Notes will be guaranteed on a senior secured basis by the Company's immediate parent company, Number Holdings, Inc. ("