Home / Knowledge / News / Apparel/Garments / Ross Stores prices offering of $250 million senior notes
Ross Stores prices offering of $250 million senior notes
19
Sep '14
NASDAQ-listed and operator of the largest off-price apparel and home fashion chain in the US – Ross stores has priced its public offering of $250 million of senior notes due in 2024.

Ross Stores said its notes will be issued at a price of 99.329% of their principal amount and will bear interest at a rate of 3.375% per annum.

Ross Stores will use the net proceeds mainly to fund the purchase of its New York Buying Office building, which is expected to close by the end of September 2014.

Any remaining net proceeds may also be used to fund its share repurchase program, meeting its working capital requirements and funding store growth and store remodelling programs.

This note offering is projected to settle on September 18, 2014, subject to customary closing conditions.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC and J.P. Morgan Securities LLC are acting as joint book-running managers.

Ross Stores reported $10.2 billion revenues in fiscal 2013 and manages 1,194 stores in 33 US states, the District of Columbia and Guam. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mark Paterson
Technical Absorbents Ltd

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

Ashok Desai
Bombay Textile Research Association

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
January 2017

January 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