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Macy announces pricing of senior notes aggregating $650 million
24
Jun '08
Macy's Inc announced the pricing of the public offering of $650 million aggregate principal amount of senior notes due 2015 by its wholly owned subsidiary, Macy's Retail Holdings, Inc. The 2015 senior notes will bear interest at a rate of 7.875 percent per annum.

The senior notes will be fully and unconditionally guaranteed on a senior unsecured basis by Macy's, Inc. The transaction is expected to close on or about June 26, 2008, subject to market conditions and other factors.

The net proceeds from the offering will be used by Macy's Retail Holdings for general corporate purposes, which may include payment of amounts due on $500 million of senior notes that mature in September 2008 and $150 million of senior notes that mature in November 2008.

Banc of America Securities LLC, Credit Suisse Securities (USA) LLC and J.P. Morgan Securities Inc. are acting as joint book-running managers. Jones Day is acting as counsel to Macy's Inc and Macy's Retail Holdings.

Macy's Inc


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