All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy’s management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, changes in the conditions of the securities markets, particularly the markets for debt securities and other factors identified in documents filed by Macy’s with the Securities and Exchange Commission.
Macy’s, Inc. (NYSE:M) today announced the pricing of the public offering of $750 million aggregate principal amount of senior notes due 2023 and $250 million aggregate principal amount of senior notes due 2043 by its wholly owned subsidiary, Macy’s Retail Holdings, Inc. The 2023 senior notes were issued at a price of 99.862% of par and will bear interest at a rate of 2.875% per annum and the 2043 senior notes were issued at a price of 99.620% of par and will bear interest at a rate of 4.30% per annum. The senior notes will be fully and unconditionally guaranteed on a senior unsecured basis by Macy’s, Inc. The transaction is expected to close on or about November 20, 2012. All or a portion of the net proceeds from the offering will be used by Macy’s Retail Holdings to fund amounts payable in connection with its previously announced tender offer for a portion of its outstanding debt securities. Macy’s Retail Holdings will use the remainder of the net proceeds, if any, for general corporate purposes, including an early financing of its 5.875% senior notes due 2013. Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running managers. Jones Day is acting as counsel to Macy’s, Inc. and Macy’s Retail Holdings. Copies of the prospectus and prospectus supplement relating to the senior notes may be obtained for free by visiting EDGAR on the SEC website at http://www.sec.gov. Alternatively, copies of the prospectus and prospectus supplement may be obtained from any of the joint book-running managers by contacting Credit Suisse Securities (USA) LLC at 800-221-1037, J.P. Morgan Securities LLC collect at 1-212-834-4533 or Merrill Lynch, Pierce, Fenner & Smith Incorporated at 1-800-294-1322. Macy’s, Inc., with corporate offices in Cincinnati and New York, is one of the nation’s premier retailers, with fiscal 2011 sales of $26.4 billion. The company operates about 840 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy’s and Bloomingdale’s, as well as the macys.com and bloomingdales.com websites. The company also operates 12 Bloomingdale’s Outlet stores.