The retailer is said to have gotten almost $6 billion in orders for the sale, pointing to strong investor demand for high-yielding bonds
By Nina Trentmann Close Nina Trentmann May 27, 2020 5:31 pm ET Macy’s Inc. priced a total of $1.3 billion in five-year bonds Wednesday, pulling in buyers with a 8.375% interest rate.
PREVIEWSUBSCRIBE But the retailer also said the offering, expected to close on June 8, is subject to the closing of a new asset-based credit facility and certain other conditions. The company declined to comment on whether it has secured the facility yet. For example, in March, TJX Cos Inc. raised $4 billion in several tranches maturing between 2025 and 2050 at rates from 3.5% to 4.5%, according to S&P Global. Ross Stores Inc., a discount chain, locked in $2 billion in April in several tranches returning between 4.6% and 5.45%, S&P Global said.
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