Limited Brands, Inc. announced that it is offering to sell $500 million aggregate principal amount of unsecured senior notes due 2023 (the "2023 Notes") in a public offering underwritten by BofA Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as joint book-running managers. The 2023 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, for repayment of its 5.250% senior unsecured notes due November 2014 at maturity and for general corporate purposes, including repayment of outstanding borrowings under its revolving credit facility to fund seasonal working capital, share repurchases and dividends.
A registration statement relating to the offering of the 2023 Notes has been filed with the United States Securities and Exchange Commission and is effective. This press release shall not constitute an offer to sell nor an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. The offering of the 2023 Notes may be made only by means of a prospectus supplement and the accompanying prospectus.
ABOUT LIMITED BRANDS:
Limited Brands, through Victoria's Secret, Pink, Bath & Body Works, La Senza and Henri Bendel, is an international company. The company operates 2,647 specialty stores in the United States and its brands are sold in about 800 company-operated and franchised locations world-wide.