NEW YORK (TheStreet) -- Shares of Bed Bath & Beyond Inc. (BBBY) are jumping 1.56% to $60.13 after it announced the pricing of three series of senior unsecured notes for an aggregate principal amount of $1.5 billion.
The home retailer also announced it intends to enter into an accelerated share repurchase agreement to buyback an aggregate of $1.1 billion of its common stock following the closing of the notes offering.
Bed Bath said it's been in discussions with lenders to enter into a $250 million senior unsecured revolving credit facility, expiring in 2019.
Separately, TheStreet Ratings team rates BED BATH & BEYOND INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate BED BATH & BEYOND INC (BBBY) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: