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L Brands to price $700 million 20-year notes in Monday drive-by
By Paul A. Harris
Portland, Ore., June 13 – L Brands, Inc. plans to price a $700 million offering of 20-year senior notes on Monday, according to a market source.
BofA Merrill Lynch, Citigroup Global Markets and J.P. Morgan Securities LLC are the joint bookrunners for the public offer.
The Columbus, Ohio-based specialty retail company plans to use the proceeds to redeem its 6.9% notes due 2017 and for general corporate purposes.
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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