Home / Knowledge / News / Apparel/Garments / Neiman Marcus prices offering of $1.56bn senior notes
Neiman Marcus prices offering of $1.56bn senior notes
Oct '13
Neiman Marcus Group LTD Inc. priced an offering of $960 million principal amount senior cash pay notes due 2021 (the “Cash Pay Notes”) and $600 million principal amount senior PIK toggle notes due 2021 (the “PIK Toggle Notes” and, together with the Cash Pay Notes, the “Notes”).

The Notes are being issued in connection with the proposed acquisition of the Company by Ares Management LLC’s affiliated funds (“Ares”) and the Canada Pension Plan Investment Board (“CPPIB”) (the “Acquisition”) and will be co-issued by entities co-controlled by Ares and CPPIB.

The Notes were offered only to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States pursuant to Regulation S under the Securities Act.

The Cash Pay Notes will bear interest at an annual rate of 8.00% and the PIK Toggle Notes will bear interest at an annual rate of 8.75% for interest payments made in cash and 9.50% for interest payments made in payment-in-kind. The price to investors will be 100% of the principal amount of the Notes.

The Notes have not been and will not be registered under the Securities Act or any state securities law, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Neiman Marcus

Must ReadView All

Apparel/Garments | On 26th Oct 2016

SGS develops 4C chemical management model for apparel

SGS, a leading inspection, auditing, certification, testing, and...

Textiles | On 26th Oct 2016

Platinum Equity acquires International Textile Group

International Textile Group (ITG) has been acquired by Platinum...

Textiles | On 26th Oct 2016

Whitehouse & URI Business Centre start RI textile network

Senator Sheldon Whitehouse and the University of Rhode Island...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Rahuul Jashnani

‘Online economy has changed the whole dynamics of buying habits.’

Abhimanyu Singh Rathore & Barbara Anna Kosiorek

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search