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Share Name | Share Symbol | Market | Type |
---|---|---|---|
L Brands Inc | NYSE:LB | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 79.92 | 0 | 01:00:00 |
The Notes will not be registered under the Securities Act of 1933 (the “Securities Act”) or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws. The Notes may be resold by the initial purchasers pursuant to Rule 144A and Regulation S under the Securities Act.
The company intends to use the net proceeds from the offering of the 2030 Notes to fund tender offers to purchase for cash (the “Tender Offers”) certain of its outstanding (i) 5.625% Senior Notes due 2022 (the “2022 Notes”), (ii) 5.625% Senior Notes due 2023 (the “2023 Notes”), (iii) 7.60% Senior Notes due 2037 (the “2037 Notes”) and (iv) 6.95% Exchange Debentures due 2033 (the “2033 Notes,” and together with the 2022 Notes, the 2023 Notes and the 2037 Notes, the “Waterfall Notes”) up to an aggregate principal amount that will not result in an aggregate purchase price (excluding accrued and unpaid interest) that exceeds (i) $750 million with respect to the Waterfall Notes in the aggregate and (ii) $50 million with respect to the 2037 Notes and the 2033 Notes in the aggregate. The Tender Offers are being made pursuant to an Offer to Purchase and Consent Solicitation Statement dated September 16, 2020. If the Tender Offers are not consummated or the net proceeds from the offering of the 2030 Notes exceed the total consideration payable in the Tender Offers and the redemption of any and all of the company’s 6.625% Senior Notes due 2021 (the “2021 Notes”), the company intends to use the remaining net proceeds from the offering for the repayment, redemption or repurchase of our other indebtedness.
The offering of the 2030 Notes is not contingent on the consummation of the Tender Offers or any minimum amount of tenders in the Tender Offers. The foregoing does not constitute an offer to purchase, or a notice of redemption or an obligation to issue a notice of redemption for, the 2021 Notes, the Waterfall Notes or any other notes.
This press release is neither an offer to sell nor a solicitation of an offer to buy the 2030 Notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the 2030 Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful. In addition, this press release is not an offer to purchase or a notice of redemption with regard to any securities. The offering is made only by, and pursuant to, the terms set forth in the related offering memorandum. The offering is not being made to persons in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.
ABOUT L BRANDS:L Brands, through Bath & Body Works, Victoria’s Secret and PINK, is an international company. The company operates 2,709 company-owned specialty stores in the United States, Canada, the United Kingdom and Greater China, and its brands are also sold in more than 700 franchised locations worldwide. The company’s products are also available online at www.bathandbodyworks.com and www.victoriassecret.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
We caution that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this press release or made by our company or our management involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Words such as “estimate,” “project,” “plan,” “believe,” “expect,” “anticipate,” “intend,” “planned,” “potential” and any similar expressions may identify forward-looking statements. Risks associated with the following factors, among others, in some cases have affected and in the future could affect our financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements included in this press release or otherwise made by our company or our management:
For further information, please contact:
L Brands: | |
Investor Relations | Media Relations |
Amie Preston | Brooke Wilson |
(614) 415-6704 | (614) 415-6042 |
apreston@lb.com | communications@lb.com |
1 Year L Brands Chart |
1 Month L Brands Chart |
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