Guess plans 12-month notes with 9% coupon floor in private placement

By Susanna Moon

Chicago, July 13 – Guess Corp. plans to price 12-month notes with a coupon of at least 9% in its first private debt offering of high-yield notes to accredited investors.

The notes will be issued through the company’s subsidiary T.G.C. Capital Corp. and guaranteed by Guess, according to the company announcement.

The offering will always include the option to provide an interest reserve, and there will be no prepayment penalty for the notes, the company added.

The notes will be sold directly through T.G.C. and approved broker-dealers.

Guess said it plans to use T.G.C. periodically to fund acquisitions, operating expenses and expansions.

Guess is a Durham, N.C.-based privately held luxury goods holding company that began with a focus on diamonds and has since expanded into art brokerage, lumber brokerage and luxury real estate development and construction.

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