Dollar General Corporation Announces Pricing of $1,500,000,000 of Senior Notes

GOODLETTSVILLE, Tenn.--(BUSINESS WIRE)-- Dollar General Corporation (NYSE:DG) (“Dollar General” or the “Company”) today announced the pricing of an offering (the “Offering”) of $500,000,000 of its 5.200% Senior Notes due 2028 (the “2028 Notes”) and $1,000,000,000 of its 5.450% Senior Notes due 2033 (the “2033 Notes” and, collectively with the 2028 Notes, the “Notes”). The 2028 Notes will pay interest at a rate of 5.200% per annum and mature on July 5, 2028. The 2033 Notes will pay interest at a rate of 5.450% per annum and mature on July 5, 2033. Dollar General will pay interest on the Notes semi-annually on January 5 and July 5 of each year, commencing January 5, 2024. Issuance of the Notes is expected to occur on June 7, 2023, subject to the satisfaction of customary closing conditions.

The Company will use the net proceeds from the sale of the Notes to reduce its commercial paper notes outstanding (excluding $204.3 million of commercial paper notes held by one of its wholly-owned subsidiaries) and for general corporate purposes, which may include the repayment of other indebtedness.

BofA Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC and J.P. Morgan Securities LLC are serving as joint book-running managers for the Offering. BMO Capital Markets Corp., Fifth Third Securities, Inc., Regions Securities LLC and Truist Securities, Inc. are serving as senior co-managers for the Offering. Huntington Securities, Inc., KeyBanc Capital Markets Inc., PNC Capital Markets LLC, Capital One Securities, Inc. and R. Seelaus & Co., LLC are serving as co-managers for the Offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these 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 any such state or other jurisdiction. Copies of the prospectus and related supplement may be obtained by contacting any of those joint book-running managers whose contact information is listed at the bottom of this announcement.

About Dollar General Corporation

Dollar General Corporation (NYSE: DG) is proud to serve as America’s neighborhood general store. Founded in 1939, Dollar General lives its mission of Serving Others every day by providing access to affordable products and services for its customers, career opportunities for its employees, and literacy and education support for its hometown communities. As of May 5, 2023, the company’s 19,294 Dollar General, DG Market, DGX and pOpshelf stores across the United States and Mi Súper Dollar General store in Mexico provide everyday essentials including food, health and wellness products, cleaning and laundry supplies, self-care and beauty items, and seasonal décor from our high-quality private brands alongside many of the world’s most trusted brands such as Coca Cola, PepsiCo/Frito-Lay, General Mills, Hershey, J.M. Smucker, Kraft, Mars, Nestlé, Procter & Gamble and Unilever.

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Joint Book-Running Managers:

BofA Securities, Inc.

Prospectus Department

NC1-004-03-43,

200 North College Street, 3rd Floor

Charlotte, NC 28255

Telephone: (800) 294-1322

dg.prospectus_requests@bofa.com

Citigroup Global Markets Inc.

Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, NY 11717

Telephone: (800) 831-9146

prospectus@citi.com

Goldman Sachs & Co. LLC

Prospectus Department

200 West Street

New York, NY 10282

Telephone: (866) 471-2526

Prospectus-ny@ny.email.gs.com

Source: Dollar General Corporation