Macy’s, Inc. (NYSE:M) today announced the early tender results of the previously announced cash tender offer by its wholly owned subsidiary, Macy’s Retail Holdings, LLC for each series of notes listed in the table below for a combined aggregate purchase price of up to $220 million (excluding accrued and unpaid interest, which also will be paid to, but excluding, the applicable Settlement Date and excluding fees and expenses related to the Tender Offer) in the order of priority shown in the table.
The terms and conditions of the Tender Offer are described in an Offer to Purchase dated September 4. The Tender Offer is subject to the satisfaction of certain conditions as set forth in the Offer to Purchase. Capitalized terms used in this press release and not defined herein have the meanings given to them in the Offer to Purchase.
Although the Tender Offer is scheduled to expire at 5:00 p.m., New York City time, on October 2, because holders of Notes subject to the Tender Offer validly tendered and did not validly withdraw Notes on or before the Early Tender Date in an amount that exceeds the Maximum Tender Offer Amount, the Company does not expect to accept for purchase any tenders of Notes after the Early Tender Date.
Shares in M advanced 16 cents, or 1.1%, to $15.19, soon after Wednesday’s open.
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