Federated Department Stores Inc announced the pricing of the public offering of $1.1 billion aggregate principal amount of senior notes by its wholly owned subsidiary, Federated Retail Holdings Inc.
The senior notes will bear interest at a rate of 5.90 percent per annum and will mature in 2016. The senior notes will be fully and unconditionally guaranteed on a senior unsecured basis by Federated Department Stores.
The transaction is expected to close on or about November 29, 2006. The net proceeds from the offering will be used by Federated Retail Holdings to fund amounts payable in connection with its previously announced tender offer for certain of its outstanding debt securities.
Federated Department Stores Inc
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