Macy's Inc. on Dec. 12 priced its previously announced cash tender offer to redeem up to $600 million of its outstanding notes.
The Cincinnati-based department store chain paid $1,101.37 per $1,000 principal amount of notes for its 2024 debentures; $1,080.13 per $1,000 principal amount of notes for its 2027 debentures; $1,069.99 and $1,095.42 per $1,000 principal amount of notes for its 2028 debentures; $1,197.73 and $1,088.26 per $1,000 principal amount of notes for its 2029 debentures; $1,138.07 per $1,000 principal amount of notes for its 2030 debentures; $1,071.25 per $1,000 principal amount of notes for its 2032 debentures; $1,035.04 per $1,000 principal amount of notes for its 2034 debentures; $825.26 per $1,000 principal amount of notes for its 2034 notes; and $1,003.41 per $1,000 principal amount of notes for its 2037 notes.
Holders who validly tendered their notes before 5 p.m. ET on Dec. 11 are eligible to receive $30 per $1,000 principal amount of the notes. The early settlement date is expected to be Dec. 13.
The offer will expire at 11:59 p.m. ET on Dec. 26.
BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Wells Fargo Securities LLC are dealer managers for the tender offer.