Phillips-Van Heusen Corporation announced the pricing of its public offering of $600 million of 7?% Senior Notes due 2020. The unsecured notes will mature on May 15, 2020.
The Company will use the net proceeds of the offering of the notes, after deducting underwriting discounts and commissions and offering expenses, to purchase, pursuant to its tender offers and consent solicitations for each series of notes commenced on April 7, 2010, or redeem its $150.0 million outstanding principal amount of 7¼% Senior Notes due 2011 and its $150.0 million outstanding principal amount of 8?% Senior Notes due 2013, as well as to fund a portion of the purchase price for its proposed acquisition of Tommy Hilfiger B.V. and certain affiliated companies, including related fees and expenses.
The offering of the notes is contingent upon consummation of the Company's acquisition of Tommy Hilfiger and will not be completed if the Company does not consummate the acquisition.
Phillips-Van Heusen Corporation
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