Macy’s subsidiary launches $850M debt offering
- Macy’s Retail Holdings, LLC, a wholly-owned subsidiary of Macy’s (NYSE:M) to offer $850M of senior notes in two separate tranches.
- Consisting of $425M of senior unsecured notes due 2030 and $425M of senior unsecured notes due 2032 in a private offering.
- Net proceeds together with cash on hand will be used to redeem certain of its existing outstanding senior notes.
- Shares up 2.2% premarket.