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L Brands to redeem 6.9% notes due 2017 with proceeds of new bonds
New York, June 13 – L Brands, Inc. said it plans to redeem its 6.9% notes due 2017 using proceeds from a $700 million offering of new senior notes due 2036.
Additional proceeds will be used for general corporate purposes, according to a news release.
The sale of the new notes will be underwritten by bookrunners BofA Merrill Lynch, Citigroup and J.P. Morgan.
L Brands is a Columbus, Ohio-based operator of specialty stores including Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri Bendel.
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