Macy’s, Inc. Announces Pricing for Its Debt Tender Offer

  Macy’s, Inc. Announces Pricing for Its Debt Tender Offer

Business Wire

CINCINNATI -- November 13, 2012

Macy’s, Inc. (NYSE:M) today announced the applicable Reference Yields and
consideration payable with respect to the cash Tender Offer by its wholly
owned subsidiary, Macy’s Retail Holdings, Inc., to purchase up to $700 million
in aggregate principal amount of its outstanding Notes. The terms and
conditions of the Tender Offer are described in an Offer to Purchase dated
October 29, 2012 (the “Offer to Purchase”), as modified by Macy’s, Inc.’s
press release dated November 13, 2012.

The applicable Total Tender Offer Consideration for each $1,000 in principal
amount of Notes tendered and accepted for payment pursuant to the Tender Offer
is based on the applicable Reference Yield plus a Fixed Spread, each as set
forth in the table below. The Reference Yields were determined today at 2:00
p.m., New York City time, by the Dealer Managers. The Late Tender Offer
Consideration, as set forth in the table below, is the applicable Total Tender
Offer Consideration minus the applicable Early Tender Premium. In addition,
all payments for Notes accepted for purchase in the Tender Offer will include
accrued and unpaid interest on the principal amount tendered up to, but not
including, the Settlement Date for the Tender Offer, which is currently
expected to be November 28, 2012.

                                                           Total Tender    Late Tender
                         Reference               Fixed     Offer           Offer
CUSIP       Title of     U.S.        Reference   Spread    Consideration   Consideration
Number     Security    Treasury   Yield      (basis   per $1,000     per $1,000
                         Security                points)   Principal       Principal
                                                           Amount          Amount
                                                           of Notes        of Notes
                         0.750%
            5.90%        U.S.
314275AA6   Senior       Treasury    0.623%      30        $1,195.41       $1,165.41
            Notes due    Note due
            2016         October
                         31, 2017
                         0.750%
            7.45%        U.S.
577778BF9   Debentures   Treasury    0.623%      60        $1,235.28       $1,205.28
            due 2016     Note due
                         October
                         31, 2017
                         0.250%
            7.50%        U.S.
577778AX1   Debentures   Treasury    0.328%      70        $1,159.86       $1,129.86
            due 2015     Note due
                         October
                         15, 2015
                         0.250%
            7.875%       U.S.
55616XAE7   Senior       Treasury    0.328%      62        $1,179.53       $1,149.53
            Notes due    Note due
            2015         October
                         15, 2015

Credit Suisse Securities (USA) LLC is the Coordinating Dealer Manager and BofA
Merrill Lynch and J.P. Morgan Securities LLC are the other Dealer Managers for
the Tender Offer. Global Bondholder Services Corporation is the Information
Agent and the Depositary. This news release is neither an offer to purchase
nor a solicitation of an offer to sell the Notes. The Tender Offer is made
only by the Offer to Purchase and the information in this news release is
qualified by reference to the Offer to Purchase and related Letter of
Transmittal dated October 29, 2012. Persons with questions regarding the
Tender Offer should contact Credit Suisse Securities (USA) LLC at (toll-free)
(800) 820-1653, BofA Merrill Lynch at (toll-free) (888) 292-0070 and J.P.
Morgan Securities LLC at (toll-free) (866) 834-4666. Requests for copies of
the Offer to Purchase, Letter of Transmittal and related materials should be
directed to Global Bondholder Services Corporation at (212) 430-3774 or
(toll-free) (866) 873-6300. Questions regarding the tendering of Notes may be
directed to Global Bondholder Services Corporation at (toll-free) (866)
873-6300.

Capitalized terms used in this news release and not defined herein have the
meanings given to them in the Offer to Purchase.

Macy’s, Inc., with corporate offices in Cincinnati and New York, is one of the
nation’s premier retailers, with fiscal 2011 sales of $26.4 billion. The
company operates about 840 department stores in 45 states, the District of
Columbia, Guam and Puerto Rico under the names of Macy’s and Bloomingdale’s,
as well as the macys.com and bloomingdales.com websites. The company also
operates 12 Bloomingdale’s Outlet stores.

All statements in this press release that are not statements of historical
fact are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements are based upon the
current beliefs and expectations of Macy’s management and are subject to
significant risks and uncertainties. Actual results could differ materially
from those expressed in or implied by the forward-looking statements contained
in this release because of a variety of factors, including conditions to, or
changes in the timing of, proposed transactions, changes in the conditions of
the securities markets, particularly the markets for debt securities and other
factors identified in documents filed by Macy’s with the Securities and
Exchange Commission.

(NOTE: Additional information on Macy’s, Inc., including past news releases,
is available at www.macysinc.com/pressroom).

Contact:

Macy’s, Inc.
Media
Jim Sluzewski, 513-579-7764
or
Investor
Matt Stautberg, 513-579-7780
 
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