BETHESDA (dpa-AFX) - Macy's Inc. (M) announced that its wholly-owned subsidiary, Macy's Retail Holdings, LLC, priced an offering of $500 million in aggregate principal amount of 7.375% senior notes due 2033 in a private offering at an offering price of 100% of the principal amount thereof. The Notes will have a maturity date of August 1, 2033.
The closing of the offering of the Notes is expected to occur on July 29, 2025, subject to customary closing conditions. The Notes will be senior unsecured obligations of the Issuer and will be unconditionally guaranteed on a senior unsecured basis by the Company.
The company plans to use the proceeds from the offering of the Notes, together with cash on hand, to fund its separately announced concurrent tender offer, redeem approximately $587 million of certain of its existing outstanding senior notes and debentures and pay fees, premium and expenses in connection therewith and this offering.
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