Of these notes, $300 million will mature in August 2024, were priced to yield and will bear interest at an annual rate of 3.749%; $300 million will mature in August 2034, were priced to yield and will bear interest at an annual rate of 4.915%; and $900 million will mature in August 2044, were priced to yield and will bear interest at an annual rate of 5.165%.
The offering is expected to close, subject to normal closing conditions, on July 17, 2014. The Company intends to use the proceeds from this offering for share repurchases of its common stock and for general corporate purposes.
The Company also announced it intends, subject to business and market conditions, to enter into an accelerated share repurchase agreement to repurchase an aggregate of $1.1 billion of the Company's common stock following the closing of the notes offering.
The Company has also announced that it is in discussions with lenders to enter into a $250 million senior unsecured revolving credit facility, expiring in 2019, unless extended pursuant to its terms.
Bed Bath & Beyond
Textiles | On 29th Mar 2017
Li & Fung Limited has outlined its next Three-Year Plan (2017-2019)...
Apparel/Garments | On 29th Mar 2017
Carrington Workwear, one of the largest producers of workwear fabrics ...
Angelina Francesca Cheang
'Consumers in the age-group 21 to 38 are driving the activewear trend'
Dolphin Jingwei Machines
Taxation policies need to be made simpler
Setting up a brand for online selling is easy, but running the brand is not
Schlegel und Partner
Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...
Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...
Steve Cole of Xerium Technologies discusses the industry. Xerium is the...