The Yankee Candle Company, Inc. Announces Launch of $450.0 Million Senior Note Private Placement Offering

SOUTH DEERFIELD, Mass., June 12, 2013 /PRNewswire/ -- The Yankee Candle Company, Inc. ("Yankee Candle") intends to issue $450.0 million of senior notes (the "Notes") in a private placement transaction.  The Notes will be guaranteed by Yankee Holding Corp., Yankee Candle's direct parent, and all of Yankee Candle's current and future domestic restricted subsidiaries that guarantee Yankee Candle's indebtedness under its new term loan facility and amended asset-based credit facility. Yankee Candle intends to enter into the new term loan facility and to amend its asset-based credit facility in connection with the consummation of the Notes offering.

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Yankee Candle intends to use the proceeds from the Notes offering, together with $950.0 million of borrowings under its new term loan facility, to (i) repay approximately $654.4 million of indebtedness under its existing term loan facility, plus accrued and unpaid interest, (ii) redeem $188.0 million in aggregate principal amount of its outstanding 9.75% Senior Subordinated Notes due 2017, and pay accrued and unpaid interest and a redemption premium thereon, (iii) distribute an amount to YCC Holdings, LLC, its indirect parent company ("YCC Holdings"), to enable YCC Holdings to redeem $315.0 million in aggregate principal amount of its 10.25%/11.00% Senior Notes due 2016, and pay accrued and unpaid interest and a redemption premium thereon, (iv) distribute approximately $187.0 million to its ultimate parent company, Yankee Candle Group, LLC, which will make a distribution to its equityholders, and (v) pay related fees and expenses.

The Notes will be offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain persons outside of the U.S. pursuant to Regulation S under the Securities Act.  Neither the Notes nor the related guarantees have been registered under the Securities Act or any state or other securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of the Securities Act and applicable state securities laws.

This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities. 

This press release may contain certain information constituting "forward-looking statements" for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. Forward-looking statements include but are not limited to the ability of Yankee Candle to complete the Notes offering and the other transactions specified herein.  The ability to complete the transactions is subject to various risks and uncertainties, including but not limited to those described or contained in YCC Holdings' most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q on file with the Securities and Exchange Commission.  Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date.  While we may elect to update certain forward-looking statements at some point in the future, we specifically disclaim any obligation to do so even if experience or future events may cause the views contained in any forward-looking statements to change. 

Neither this press release nor the description of the Notes contained herein constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes and the related guarantees, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The information contained herein regarding the Notes is being provided pursuant to and in accordance with Rule 135c under the Securities Act of 1933, as amended.

SOURCE The Yankee Candle Company, Inc.


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