Macy’s, Inc. Prices $750 Million of 10-Year Senior Notes and $250 Million of
30-Year Senior Notes
CINCINNATI -- November 14, 2012
Macy’s, Inc. (NYSE:M)today announced the pricing of the public offering of
$750 million aggregate principal amount of senior notes due 2023 and $250
million aggregate principal amount of senior notes due 2043 by its wholly
owned subsidiary, Macy’s Retail Holdings, Inc. The 2023 senior notes were
issued at a price of 99.862% of par and will bear interest at a rate of 2.875%
per annum and the 2043 senior notes were issued at a price of 99.620% of par
and will bear interest at a rate of 4.30% 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 November 20, 2012.
All or a portion of the net proceeds from the offering will be used by Macy’s
Retail Holdings to fund amounts payable in connection with its previously
announced tender offer for a portion of its outstanding debt securities.
Macy’s Retail Holdings will use the remainder of the net proceeds, if any, for
general corporate purposes, including an early financing of its 5.875% senior
notes due 2013.
Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Merrill
Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running
managers. Jones Day is acting as counsel to Macy’s, Inc. and Macy’s Retail
Copies of the prospectus and prospectus supplement relating to the senior
notes may be obtained for free by visiting EDGAR on the SEC website at
http://www.sec.gov. Alternatively, copies of the prospectus and prospectus
supplement may be obtained from any of the joint book-running managers by
contacting Credit Suisse Securities (USA) LLC at 800-221-1037, J.P. Morgan
Securities LLC collect at 1-212-834-4533 or Merrill Lynch, Pierce, Fenner &
Smith Incorporated at 1-800-294-1322.
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
Media – Jim Sluzewski, 513-579-7764
Investor – Matt Stautberg,513-579-7780
Press spacebar to pause and continue. Press esc to stop.