Carlyle-backed HD Supply Holdings Inc. has filed for a $1 billion U.S. initial public offering.

The Atlanta-based construction supply business said in its regulatory filing that it will use the IPO proceeds to repay debt, totaling $8.93 billion as of Feb. 3.Operating in more than 600 locations in the U.S. and Canada, HD Supply generated $8 billion in sales for the year ended Feb. 3. 

In 2007, HD Supply was sold to a group which includes Carlyle, Bain Capital LLC and Clayton, Dubilier and Rice LLC  in 2007 by Home Depot Inc, the world's largest home improvement chain, for $8.5 billion. Each of the three buyout firms own about 28 percent of HD Supply.

IPO managers are Bank of America Corp., Barclays Plc, JPMorgan Chase & Co. and Credit Suisse Group AG.