Sally Beauty Holdings, Inc. Announces Repayment of Fixed-Rate Portion of Term Loan
January 05, 2021 at 06:45 am
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Sally Beauty Holdings, Inc. ('the Company') announced that it has fully repaid the outstanding balance of $213 million on its 4.5% fixed-rate term loan. The repayment was funded with excess cash and reflects continued progress toward deleveraging the Company’s balance sheet. As of December 31, 2020, the Company had more than $515 million of cash on-hand and a zero balance outstanding on its asset-based revolving line of credit. Given the Company’s strong liquidity position and proven ability to navigate through the COVID-19 pandemic, the Company made the strategic decision to execute an additional round of debt reduction. The Company previously reduced its debt levels by $445 million in September 2020.
Sally Beauty Holdings, Inc. is an international specialty retailer and distributor of professional beauty supplies with operations primarily in North America, South America, and Europe. The Company operates through two business segments: Sally Beauty Supply (SBS) and Beauty Systems Group (BSG). The SBS segment is a domestic and international chain of cash and carry retail stores, which offers professional beauty supplies to both salon professionals and retail customers, primarily in North America, Puerto Rico, and parts of Europe and South America. The BSG segment includes its franchise-based business Armstrong McCall, a service distributor of beauty products and supplies that offers professional beauty products directly to salons and salon professionals through its professional-only stores, e-commerce platforms and its own sales force in partially geographical territories in the United States and Canada. The Company operates approximately 4,486 company-operated stores.
SALLY BEAUTY HOLDINGS, INC. 
