PVH to redeem 4˝% senior notes due 2022

New York, Dec. 6 – PVH Corp. has delivered a notice of redemption for its 4˝% senior notes due 2022.

The company will pay 102.25% of par plus accrued interest up to but excluding the redemption date, according to a news release.

PVH did not disclose the redemption date.

Completion of the call is conditional on the closing of a sale of at least €500 million of new senior notes due 2027, an offering announced on Wednesday morning.

Funds from the new notes along with revolving credit facility borrowings and cash on hand will be used to fund the redemption.

PVH has $700 million of the 4˝% notes outstanding, according to the company’s latest 10-Q filing with the Securities and Exchange Commission. The securities have a make-whole call provision until Dec. 15 and a standard call feature from that date.

PVH is a New York-based apparel company.

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