Casey’s Completes Financing for Recapitalization Plan

Casey’s General Stores Inc. has completed a private placement for $569 million of 5.22% senior unsecured notes due 2020.

Casey’s plans to use the net proceeds from the offering to finance its previously announced recapitalization plan set to be executed through a modified “Dutch auction” self tender offer for up to $500 million in value of shares of its common stock, as well as to pay the fees and expenses in connection with the offer.

In addition, the Casey’s plans to use approximately $59 million of the proceeds from the sale in connection with its prepayment of its Senior Notes with interest rates between 6.18% to 7.23% and its 7.38% Senior Notes. Any proceeds from the offering not used in this manner are expected to be used for general corporate purposes.



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