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Macy's launches tender offer

Macy's Inc. said Nov. 27 that its subsidiary Macy's Retail Holdings Inc. commenced a cash tender offer for up to $400 million of its outstanding notes.

The notes include $61.2 million of 8.75% debentures due 2029, $18.3 million of 7.875% debentures due 2030, $372.2 million of 6.7% debentures due 2034, $178.5 million of 6.9% debentures due 2032, $365.1 million of 6.375% notes due 2037, $298 million of 7.0% debentures due 2028, $396.2 million of 6.9% debentures due 2029, $165.4 million of 6.79% debentures due 2027, $197 million of 6.7% debentures due 2028, $24.3 million of 7.6% debentures due 2025 and $33.4 million of 10.25% debentures due 2021.

Macy's expects to price the offer on Dec. 11.

The tender offer will expire at 11:59 p.m. ET on Dec. 22 and the final settlement date will be Dec. 26.