Best Buy Raises $1B In Note Sale

Consumer electronics retailer, Best Buy, has raised $1 billion in a two-part sale of senior secured notes.

Consumer electronics retailer, Best Buy, has raised $1 billion in a two-part sale of senior secured notes, Reuters reports. Bonds worth $350 million, which carry a coupon rate of 3.75%, will be due on March 15, 2016.The other tranche comprises notes worth $650 million, which carry a coupon rate of 5.5% and will mature on March 15, 2021. The joint book-running managers for the sale were Bank of America Merrill Lynch, Credit Suisse, JP Morgan and UBS.

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