99 Cents Only Stores LLC Announces Closing Of $350 Million Senior Secured Notes Offering
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Company ) today announced that on December 22, 2020, 99 Escrow Issuer, Inc. (the
Initial Issuer ) closed its previously announced private placement of $350 million aggregate principal amount of 7.5% senior secured notes due 2026 (the
Notes ), which were issued at a price of par. The Initial Issuer was formed solely for the purpose of issuing the Notes and was merged with and into the Company, and the Company assumed the obligations of the Initial Issuer under the Notes and the related indenture. The Notes are guaranteed on a senior secured basis by the Company s immediate parent company, Number Holdings, Inc. (
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