Elizabeth Arden, Inc. (NASDAQ:RDEN) today announced that it priced its previously announced private offering of $100,000,000 aggregate principal amount of senior notes due 2021 (the "Notes"). The Notes will be sold to investors at a price of 106.75% of the principal amount thereof and will bear interest at a rate equal to 7.375% per annum. The Notes will be additional notes under an indenture pursuant to which the Company previously issued $250,000,000 aggregate principal amount of 7.375% Senior Notes due 2021. The closing of the private offering is expected to occur on January 30, 2014, subject to customary closing conditions.
The Company intends to use the net proceeds from the sale of the Notes to repay a portion of its outstanding indebtedness under its revolving credit facility.
The Notes will be sold to qualified institutional buyers in reliance on Rule 144A, and outside the United States in compliance with Regulation S under the Securities Act of 1933, as amended. The Notes will not be registered under the Securities Act or state securities laws and may not be offered or sold by holders thereof without registration unless an exemption from such registration is available.
This announcement is not an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any state where such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Elizabeth Arden, Inc. is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "should," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our guidance and expectations regarding net sales, earnings, gross margins, operating cash flow and returns on invested capital. In addition, any such statements are qualified in their entirety by reference to, and are accompanied by, the following key factors that have a direct bearing on our results of operations: