20 Jul Caleres Launches Senior Notes Offering
Caleres, formerly Brown Shoe Co., intends to offer $200 million in senior notes due 2023 in a private placement, subject to market and other conditions. The notes will be guaranteed on a senior unsecured basis by each of its subsidiaries which is a borrower or guarantor under the company’s existing revolving credit facility.
The company intends to use the net proceeds from the offering, together with additional cash on hand, to purchase any and all of the company’s outstanding $200 million aggregate principal amount of 7⅛ percent Senior Notes due 2019, which are tendered pursuant to a cash tender offer, otherwise redeem any notes not tendered in the cash tender offer, and pay fees and expenses in connection with the foregoing transactions.
The notes and related guarantees will be offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act) and outside the United States to non-United States persons in compliance with Regulation S under the Securities Act. The notes and related guarantees have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements.