Macy’s gives results of cash tender offer for six series of second-lien notes

By Rebecca Melvin

Concord, N.H., March 8 – Macy’s, Inc. announced the results of its Feb. 25 offer to purchase for cash any and all of six series of second-lien notes issued by wholly owned subsidiary Macy’s Retail Holdings LLC, according to a company press release.

As of 5 p.m. ET on March 7, the notes validly tendered and accepted include:

• $1,687,000 of $80,811,000 principal amount outstanding of 6.65% senior secured debentures due 2024 (Cusips: 55617LAA0, 55617LAB8, U5562LAA7);

• $986,000 of $73,892,000 principal amount outstanding 6.7% senior secured debentures due 2028 (Cusips: 55617LAC6, 55617LAD4, U5562L AB5);

• $0 of $13 million principal amount outstanding of 8.75% senior secured debentures due 2029 (Cusips: 55617LAE2, 55617LAF9, U5562LAC3);

• $10,000 of $4,686,000 principal amount outstanding of 7.875% senior secured debentures due 2030 (Cusips: 55617LAG7, 55617LAH5, U5562LAD1);

• $3,573,000 of $5,339,000 principal amount outstanding of 6.9% senior secured debentures due 2032 (Cusips: 55617LAJ1, 55617LAK8, U5562LAE9); and

• $1,853,000 of $182,698,000 principal amount outstanding of 6.7% senior secured debentures due 2034 (Cusips: 55617LAL6, 55617LAM4, U5562LAF6).

The notes will be repurchased for par plus accrued interest. The settlement date was expected to be March 8.

The offer constitutes a collateral offer under the indenture governing the notes, which obtained investment-grade status on Feb. 22. The liens on the collateral securing the second-lien notes that remain outstanding after the offer will be released and no longer secure the second-lien notes.

U.S. Bank NA (800 934-6802; cts.specfinance@usbank.com) is acting as depositary for the offer. Questions may be directed to the depositary or to Macy’s (212 494-1621; michael.mcguire@macys.com). The offer to purchase may be accessed at www.macysinc.com/collateral-offer/.

The retail chain company is based in Columbus, Ohio.

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