L Brands announces proposed $500M offering of senior notes due 2028

|About: L Brands, Inc. (LB)|By:, SA News Editor

L Brands (NYSE:LB) is offering to sell $500M aggregate principal amount of unsecured senior notes due 2028 in a public offering underwritten by BofA Merrill Lynch, Citigroup, HSBC, J.P. Morgan and Wells Fargo Securities as joint book-running managers.

The 2028 Notes will be guaranteed by certain of the Company’s subsidiaries.

The Company intends to use proceeds from the offering, after the payment of fees and expenses, together with cash on hand, for the redemption of its outstanding 8.500% senior notes due 2019.

Source: Press Release

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