Macy's issues $500M of 7.375% senior notes due 2033 to fund tender offer and debt redemption

Macy's, Inc.

Issued $500M aggregate principal of 7.375% senior notes due 2033 at par; interest payable semi-annually starting Feb 1, 2026.
Proceeds, with cash on hand, to fund up to $250M tender offer (upsized from $175M) and redeem ~$587M of other outstanding notes.
Tender offer early results: $223.9M of 5.875% notes due 2030 accepted (67.93% proration); other series fully accepted.
Tender offer expiration remains Aug 11, 2025, but no further acceptances expected after early settlement on July 29, 2025.
Notes are senior unsecured obligations of Macy's Retail Holdings, LLC, guaranteed by Macy's, Inc.

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