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Victoria’s Secret Markets New $500 Million Loan to Fund Bath & Body Spinoff

  • Money will help finance split from Bath & Body Works
  • Eight-year loan may pay 300 basis points above Libor

Victoria’s Secret is borrowing $500 million in the loan market to help fund the lingerie retailer’s separation from Bath & Body Works.

The new loan is due 2028, and is being marketed at 300 to 325 basis points above London interbank offered rate, according to a person with knowledge of the matter. The debt may be sold at 99 cents on the dollar, said the person, who asked not to be identified because the deal is private.