Macy’s to repay revolving credit facility in full

By Rebecca Melvin

New York, May 26 – Macy’s Inc. plans to use proceeds from a new notes offering together with cash on hand to repay all amounts outstanding under its revolving credit facility, according to a company news release on Tuesday.

The company is issuing senior notes due 2025 secured on a first-priority basis by a first mortgage/deed of trust in certain real property of subsidiaries of Macy’s Propco Holdings LLC, a newly created subsidiary.

The retailer is based in New York.

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