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Macy’s, Inc. Announces Amendments To Tender Offer For Debt Securities

Macy’s, Inc. (NYSE:M) today announced that its wholly owned subsidiary, Macy’s Retail Holdings, Inc., has amended certain terms of the previously announced cash tender offer (the “Tender Offer”) to purchase its outstanding 5.90% Senior Notes due 2016, 7.45% Debentures due 2016, 7.50% Debentures due 2015, and 7.875% Senior Notes due 2015 pursuant to, and in the acceptance priority order listed in, the Offer to Purchase, dated October 29, 2012 (the “Offer to Purchase”) and the related Letter of Transmittal (the “Letter of Transmittal” and, together with the Offer to Purchase, the “Tender Offer Documents”). The Tender Offer has been amended to:

  1. increase the Maximum Tender Offer Amount of the outstanding Notes to be purchased in the Tender Offer to $700 million in aggregate principal amount. Macy’s Retail Holdings had previously offered to purchase an aggregate principal amount of up to $500 million of Notes in the Tender Offer. This action was taken in response to the positive reception the Tender Offer has experienced;
  2. add a maximum principal amount limitation of $400 million on the 5.90% Senior Notes due 2016 that may be purchased pursuant to the Tender Offer;
  3. extend the Early Tender Date and the Withdrawal Date from 5:00 p.m., New York City time, on November 9, 2012 to 5:00 p.m., New York City time, on November 16, 2012; and
  4. confirm the Price Determination Date as 2:00 p.m., New York City time, on November 13, 2012.

Except as set forth above, the terms and conditions of the Tender Offer remain unchanged. As previously disclosed in the Tender Offer Documents, the Tender Offer will expire at 11:59 p.m., New York City time, on November 27, 2012, unless extended (such date and time, as the same may be extended, the “Expiration Date”). The Settlement Date for the Tender Offer will be promptly after the Expiration Date, and currently is expected to be the first business day following the Expiration Date, November 28, 2012.

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