debt
confidence high
sentiment positive
materiality 0.45
Macy's early tender results: $220M debt buyback, prorated acceptance for 5.875% notes due 2029
Macy's, Inc.
- Accepted all tenders for 6.79% due 2027 ($10.49M), 7.00% due 2028 ($10.20M), 6.70% due 2028 ($19.95M total), 6.90% due 2029 ($7.20M).
- Accepted $173.65M of $292.18M tendered of 5.875% Notes due 2029 (59.5% proration factor).
- Maximum tender offer amount of $220M exceeded; no acceptance of 8.75% debentures or 5.875% notes due 2030.
- Early settlement on September 19, 2024; uses cash on hand to fund repurchase.