CINCINNATI--(BUSINESS WIRE)--Nov. 14, 2012--
Macy’s, Inc. (NYSE:M) today announced the pricing of the public offering
of $750 million aggregate principal amount of senior notes due 2023 and
$250 million aggregate principal amount of senior notes due 2043 by
its wholly owned subsidiary, Macy’s Retail Holdings, Inc. The 2023
senior notes were issued at a price of 99.862% of par and will bear
interest at a rate of 2.875% per annum and the 2043 senior notes were
issued at a price of 99.620% of par and will bear interest at a rate of
4.30% per annum. The senior notes will be fully and unconditionally
guaranteed on a senior unsecured basis by Macy’s, Inc. The transaction
is expected to close on or about November 20, 2012.
All or a portion of the net proceeds from the offering will be used by
Macy’s Retail Holdings to fund amounts payable in connection with its
previously announced tender offer for a portion of its outstanding debt
securities. Macy’s Retail Holdings will use the remainder of the net
proceeds, if any, for general corporate purposes, including an early
financing of its 5.875% senior notes due 2013.
Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and
Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint
book-running managers. Jones Day is acting as counsel to Macy’s, Inc.
and Macy’s Retail Holdings.
Copies of the prospectus and prospectus supplement relating to the
senior notes may be obtained for free by visiting EDGAR on the SEC
website at http://www.sec.gov.
Alternatively, copies of the prospectus and prospectus supplement may be
obtained from any of the joint book-running managers by contacting
Credit Suisse Securities (USA) LLC at 800-221-1037, J.P. Morgan
Securities LLC collect at 1-212-834-4533 or Merrill Lynch, Pierce,
Fenner & Smith Incorporated at 1-800-294-1322.
Macy’s, Inc., with corporate offices in Cincinnati and New York, is one
of the nation’s premier retailers, with fiscal 2011 sales of $26.4
billion. The company operates about 840 department stores in 45 states,
the District of Columbia, Guam and Puerto Rico under the names of Macy’s
and Bloomingdale’s, as well as the macys.com and bloomingdales.com
websites. The company also operates 12 Bloomingdale’s Outlet stores.
All statements in this press release that are not statements of
historical fact are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements are
based upon the current beliefs and expectations of Macy’s management and
are subject to significant risks and uncertainties. Actual results could
differ materially from those expressed in or implied by the
forward-looking statements contained in this release because of a
variety of factors, including conditions to, or changes in the timing
of, proposed transactions, changes in the conditions of the securities
markets, particularly the markets for debt securities and other factors
identified in documents filed by Macy’s with the Securities and Exchange
Source: Macy’s, Inc.
Media – Jim Sluzewski, 513-579-7764
Matt Stautberg, 513-579-7780