Limited Brands, the parent of Victoria’s Secret, will issue $1 billion in senior notes due in 2021. The 6.625% notes will be guaranteed by certain Limited Brands’ subsidiaries.
The proceeds from the note sale are expected to be used by the company to repurchase $500 million of its shares. Merrill Lynch, Pierce Fenner & Smith, JP Morgan Securities and Citigroup Global Markets have been appointed as joint book-running managers.
Click here for the release from PR Newswire.