Levi Strauss starts tender offer for 7 5/8% senior notes due 2020

New York, April 20 – Levi Strauss & Co. began a cash tender offer for its $525 million of 7 5/8% senior notes due 2020, according to a news release.

The company is offering $1,042.50 per $1,000 principal amount of notes.

Holders will also receive accrued interest up to but excluding the settlement date.

The tender ends at 5 p.m. ET on April 24. Settlement is scheduled for April 27.

Completion of the tender is subject to conditions including the receipt of proceeds that will be sufficient, along with cash on hand and revolving credit facility borrowings, to fund the tender offer. Levi Strauss announced an offering of $475 million of senior notes on Monday morning.

BofA Merrill Lynch (888 292-0070 or 980 388-3646) is dealer manager. Global Bondholder Services Corp. (212 430 3774 for banks and brokers, 866 470-4500 for others) is the depositary and information agent.

Levi Strauss is a San Francisco-based apparel and jeanswear company.

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