ATLANTA, Sept. 19, 2016 (GLOBE NEWSWIRE) -- HD Supply Holdings, Inc. (Nasdaq:HDS) today announced that its indirect wholly-owned subsidiary, HD Supply, Inc.  has secured commitments from investors to fund a new tranche of term loans in an aggregate principal amount of $550,000,000 priced at 99.50% of the principal amount and bearing interest at a rate of LIBOR plus 2.75% per annum (with no LIBOR floor), which will be reduced to a rate of LIBOR plus 2.50% per annum upon the Company reaching a total consolidated leverage ratio of 3.0x or less. As previously announced, the Company intends to use the proceeds of such new tranche of term loans, together with cash on hand and borrowings under its existing ABL Credit Facility, to redeem its outstanding $1,275,000,000 aggregate principal amount of 7.50% Senior Notes due 2020 (the “7.50% Senior Notes”) and to pay related fees and expenses.

About HD Supply

HD Supply (www.hdsupply.com) is one of the largest industrial distributors in North America. The company provides a broad range of products and value-add services to approximately 500,000 customers with leadership positions in maintenance, repair and operations, infrastructure and specialty construction sectors. Through approximately 500 locations across 48 states and six Canadian provinces, the company's approximately 13,000 associates provide localized, customer-driven services including jobsite delivery, will call or direct-ship options, diversified logistics and innovative solutions that contribute to its customers' success.