L Brands to redeem 2021 notes via new notes due 2025

By Marisa Wong

Los Angeles, June 4 – L Brands, Inc. said it plans to repurchase or redeem all of its outstanding 2021 notes using proceeds from an offering of new notes.

The company announced on Thursday plans to issue $750 million of senior secured notes due 2025 and $500 million of senior unsecured notes due 2025.

Funds from the new notes will also be used to fund $200 million of retirement plan obligations and for general corporate purposes.

Based in Columbus, Ohio, L Brands owns the Victoria’s Secret, PINK and Bath & Body Works brands.

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