Best Buy to offer bond sale to repay debt coming due

Author:
Updated:
Original:

Best Buy plans to raise $350 million with a bond offering as it prepares to repay $500 million of notes due next week.

Bloomberg News reports that Best Buy’s 6.75 percent bonds mature on July 15.

The news service quotes a source with knowledge of the transaction who says that Best Buy may use the proceeds from new five-year securities to refinance debt, fund working capital or repurchase stock.

This would be the Richfield-based company's first bond offering since 2011. Best Buy has reported three straight quarters of net losses.

Next Up

Byron Buxton

Buxton placed on IL, Trevor Larnach called up

Buxton could be out "for weeks" with a hip strain.

A bald eagle perched on branches.

USFWS confirms 2 bald eagles were shot dead

The agency is offering a reward for information in the case.

A newborn baby, wrapped in a blanket with its mother.

Most popular baby names includes one not in top 10 for 100 years

But Olivia and Liam once again led the way for girls and boys.

Minnesota Lottery

Names of big Minnesota Lottery winners to be kept private thanks to new law

The Minnesota Legislature passed the bill unanimously and Gov. Tim Walz signed it into law this week.

FLickr - COVID-19 vaccination - Commander, U.S. Naval Forces

All 8 state COVID-19 vaccine sites now accept walk-ins

Adults can get a no-cost vaccine without making an appointment.

Wilf

Report: Vikings owners nearing purchase of Orlando City MLS franchise

The Wilfs reportedly attempted to buy the Minnesota United expansion franchise years ago.

bemidji paul bunyan

Video shows the moment someone broke the Paul Bunyan statue's arm

Police are asking for the public's help to identify those involved.

bridgeman's food truck duluth

Last remaining Bridgeman's Restaurant is launching a food truck

The Duluth restaurant is the only remaining full-service Bridgeman's in business.

FLickr - electric drive vehicle charging - Open Grid Scheduler

Minnesota can move ahead with Clean Cars program, judge says

She recommended the proposed rules be adopted.

Rochester Fire Department Twitter - car crash photos

Car crashes through wall of Rochester home

The city's fire department shared some dramatic photos of the wreck.

Related