Macy's To Offer $500 Mln In Senior Notes To Fund Debt Redemption And Concurrent Tender Offer

(RTTNews) - Macy's, Inc. (M), an omnichannel retail company operating department stores, websites, and mobile applications, on Monday announced that its wholly-owned subsidiary Macy's Retail Holdings, LLC, plans to offer $500 million in Senior Notes, due 2033 in a private offering.

The Senior Notes will be unsecured obligations and will be unconditionally guaranteed by the company.

The issuer plans to use the proceeds from the Notes offering, along with cash on hand, to fund its concurrent tender offer and redeem approximately $587 million of existing Senior Notes and debentures, and cover related offering fees and expenses.

In the pre-market trading, Macy's 0.52% lesser at $12.47 on the New York Stock Exchange.