logo
Plus   Neg
Share
Email

Office Depot Announces Cash Tender Offer For 6.25% Senior Notes Due 2013

Office Depot (ODP), a provider of office supplies and services that helps customers save time, announced that it has commenced a cash tender offer to purchase up to $250.0 million aggregate principal amount of its outstanding 6.25% Senior Notes due 2013.

The tender offer is scheduled to expire on March 16, 2012, unless extended or earlier terminated. Holders of notes must tender and not withdraw their notes at or before the early tender date, which is on March 2, 2012, unless extended, to receive the "Total Consideration."

The company noted that it will have the option, at its discretion, for settlement of notes validly tendered on or before the early tender date and accepted for purchase by Office Depot to occur on an early settlement date, which is anticipated to be March 13, 2012. It is anticipated that the settlement date for notes validly tendered on or before the expiration date and accepted for purchase by Office Depot will be March 19, 2012.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Walmart is ditching its dress code policy and is testing a new dress code that will allows "associates" to wear blue denim and shirts of any solid color. The updated dress coded guidelines now allow employees to wear blue "jeggings" and blue jeans and shirts of any solid color, according to a Walmart... Canadian investment firm Fairfax Financial Holdings Ltd. has submitted a "stalking horse" bid worth C$300 million, or $237 million, for the Canadian unit of Toys "R" Us, according to court documents. A stalking horse bid is an initial bid on the assets of a bankrupt company. The bankrupt company will choose an entity from a pool of bidders who will make the first bid on its assets. The car rental market in the U.S. is consolidating as large car rental companies are buying smaller, local companies to expand their portfolio of premium and value brands. The key players in the U.S. market include Enterprise Holdings, Hertz Global Holding and Avis Budget Group. Let's take a look at some of the best and worst car rental companies in the U.S.
Follow RTT