March 25, 2009 (FinancialWire) -- Staples, Inc. (NASDAQ: SPLS) said that it has priced a public offering of $500 million of its senior notes, at 7.75 percent coupon, due April 1, 2011. The offering is scheduled to close on March 27.

The company said it expects to receive net proceeds of around $497.5 million. It plans to use the proceeds to repay Staples' outstanding debt related to its commercial paper program, as well as for general corporate purposes.

Framingham, Massachusetts-based Staples offers a range of office products, including supplies, technology, furniture, and business services.

The company posted 2008 sales of $23 billion and has 91,000 employees worldwide. The company operates in 27 countries throughout North and South America, Europe, Asia and Australia.

Last July, Staples acquired Corporate Express, a supplier of office products to businesses and institutions.

FinancialWire" ( http://www.financialwire.net ), an independent, proprietary news service of Investrend Communications, Inc., receives no compensation for its news or opinions. Further disclosure is at http://www.investrend.com/articles/secondlevel.asp?level=472 . To contact FinancialWire" write to inquiries@financialwire.net .

Free annual reports for companies mentioned in the news are accessible via http://investrend.ar.wilink.com/?level=279 .

Copyright(C)2009 by financialwire.net, Inc. All rights reserved.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.