Staples Seeks $1.8 Billion Loan, Floats Double-Digit Yield
- Office supply retailer is working to refinance debt load
- Offering comes amid strong investor demand for risky debt
A customer enters a Staples retail store in New York.
Photographer: Jin Lee/BloombergThis article is for subscribers only.
Banks led by Morgan Stanley are kicking off a $1.8 billion leveraged loan sale for Staples Inc. as the office supplier seeks to refinance its debt load.
A call for the deal will be held 10:30 a.m. ET on Tuesday, according to a person familiar with the matter, who asked not to be identified as they’re not authorized to speak publicly. Proceeds, along with $2.35 billion of other secured debt, will be used to refinance other borrowings, the person added.