Home / Knowledge / News / Apparel/Garments / Nordstrom to raise $400mn via senior notes
Nordstrom to raise $400mn via senior notes
04
Dec '13
Nordstrom, Inc. announced that it priced a private offering (“Private Cash Offering”) to eligible purchasers of $400 million aggregate principal amount of 5.00% Senior Notes due 2044 (the “New Notes”) at an offering price of 99.331% of the principal amount thereof.

Nordstrom estimates that the net proceeds from the issuance and sale of the New Notes (after deducting the initial purchasers' discounts and its estimated offering expenses) will be approximately $393 million.

The net proceeds from the sale of the Notes will be used for general corporate purposes, including repayment or retirement of outstanding indebtedness due in 2014, financing of capital expenditures and working capital needs.

Nordstrom Inc. also announced that it expects to make private offers (the “Private Exchange Offering”) to exchange its outstanding 7.00% Senior Notes due 2038 (the “Old Notes”) for up to a maximum of $300 million aggregate principal amount of additional New Notes.

It is expected that the New Notes issued pursuant to the Private Exchange Offers will comprise part of the same series as, and will be fungible for U.S. federal income tax purposes with, the New Notes sold in the Private Cash Offering.

About Nordstrom

Nordstrom, Inc. is one of the leading fashion specialty retailers based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 261 stores in 35 states, including 117 full-line stores, 141 Nordstrom Racks, two Jeffrey boutiques and one clearance store.

Nordstrom also serves customers through Nordstrom.com and through its catalogs. Additionally, the Company operates in the online private sale marketplace through its subsidiary HauteLook.

Nordstrom

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Rahuul Jashnani
Jashn

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

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mike Hoffman
Gildan Activewear SRL

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search