2022-09-06 | NYSE: CEO | Press release

Dollar General Corporation (NYSE:DG) (“Dollar General” or the “” Company) today announced the price of an offer (the “” Offer) of $750,000,000 of its senior notes at 4.250 % due 2024 (the “2024&CloseCurlyDoubleQuote Bonds”), $550,000,000 of its 4.625% senior bonds due 2027 (the “2027 Bonds”), $700,000,000 of its 5.000% senior bonds from due in 2032 (the “2032 Bonds”) and $300,000,000 of its 5.500% senior notes due 2052 (the , together with the 2024 Bonds, the 2027 Bonds and the 2032 Bonds, the “Notes&CloseCurlyDoubleQuote 😉 . The 2024 Bonds will bear interest at the rate of 4.250% per annum and will mature on September 20, 2024. The 2027 Bonds will bear interest at the rate of 4.625% per annum and will mature on November 1, 2027. The 2032 Bonds will bear interest at a rate of 5.000% per annum and maturing on November 1, 2032. The 2052 Notes will bear interest at a rate of 5.500% per annum and will mature on November 1, 2052. Dollar General will pay interest on the 2024 Notes semi-annually on March 20 and September 20 of each year, beginning March 20, 2023. Dollar General will pay interest on the 2027 Notes, 2032 Notes and 2052 Notes semi-annually on May 1 and November 1 of each year, beginning May 1, 2023. L The issuance of the Notes is expected to occur on September 20, 2022, subject to the satisfaction of customary closing conditions.

The Company will use the net proceeds from the sale of the notes to repay the full $900 million outstanding principal amount of its 3.25% Senior Notes due 2023, including payment of any applicable redemption premium , to reduce its outstanding commercial paper (excluding $192.0 million of commercial paper held by one of its wholly-owned subsidiaries) and, to the extent of any remaining proceeds, for the purposes general corporate affairs, which may include the repayment of other debts and the repurchase of common stock under its existing stock buyback program.

Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Wells Fargo Securities, LLC, BofA Securities, Inc., JP Morgan Securities LLC and US Bancorp Investments, Inc. are acting as joint account holders for the Offer. Truist Securities, Inc., Fifth Third Securities, Inc., PNC Capital Markets LLC and Regions Securities LLC are acting as co-lead managers of the Offering. BNP Paribas Securities Corp., KeyBanc Capital Markets Inc., Capital One Securities, Inc., Huntington Securities, Inc. and CastleOak Securities, LP act as co-managers of the Offer.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and there will be no sale of such securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction. Copies of the prospectus and related supplement may be obtained by contacting any of these joint bookrunners whose details are set out at the bottom of this press release.

About Dollar General Corporation

Dollar General Corporation has been delivering value to shoppers for over 80 years. Dollar General helps shoppers save time. To save money. Everyday.’® by offering frequently used and restocked products, such as food, snacks, health and beauty products, cleaning products, basic clothing, household items and seasonal items at everyday low prices in convenient neighborhood locations. Dollar General operated 18,566 stores in 47 states as of July 29, 2022. In addition to high quality private labels, Dollar General sells products from the most trusted US manufacturers such as Clorox, Energizer, Procter & Gamble, Hanes, Coca-Cola, Mars, Unilever, Nestlé, Kimberly-Clark, Kellogg’s, General Mills and PepsiCo.

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