Staples says it will sell senior notes

Staples Inc., the world's largest office products company, said it would sell debt to repay part of its outstanding commercial paper loans, its 2008 credit agreement, and its revolving credit facility.

Headquartered in Framingham, the company did not say how much debt it would sell or what the yield on the debt would be, saying that the offering will be made only by prospectus and prospectus supplement.

Its stock rose 10 cents to $18.40 in morning trading.

The company registered with the Securities and Exchange Commission in December to sell an indeterminate amount of senior unsecured debt at indeterminate prices. The debt will rank equally with other unsecured debt, according to the registration.

In December, the company also said it voluntarily reduced the total commitment under its existing credit agreement to $2.75 billion from $3 billion.

To read the company's press release, please click here. (AP)