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Neiman Marcus plans to pay down term loan via proceeds of new notes
By Wendy Van Sickle
Columbus, Ohio, May 16 – Neiman Marcus Group Ltd. LLC plans to repay up to $550 million of term loans under its existing term loan credit facility with proceeds of an offering of $550 million of second-lien notes due 2024, according to an 8-K filing with the Security and Exchange Commission.
The company also may use proceeds of the offering to pay fees related the amendment and extension of the term loan facility and the previously announced exchange offers and consent solicitations for its unsecured 8% senior cash pay notes due 2021 and 8¾%/9½% senior PIK toggle notes due 2021.
Neiman Marcus is a Dallas-based luxury retailer.
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