Wolverine to pay down and cancel revolver with $375 million notes sale

By Sara Rosenberg

New York, Sept. 24 - Wolverine World Wide Inc. plans to repay and terminate its existing revolving credit facility using proceeds from a $375 million senior notes offering, according to a market source.

In addition, funds from the bond deal will be used to help fund the acquisition of Collective Brands Inc.'s Performance + Lifestyle Group and to repay certain of Collective Brands' debt.

Wolverine World Wide is a Rockford, Mich.-based marketer of branded casual, active lifestyle, work, outdoor sport and uniform footwear and apparel.

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