L Brands Offers To Sell $500 Mln Of Unsecured Senior Notes Due 2023

(RTTNews) - L Brands Inc. (LTD), formerly known as Limited Brands Inc., announced Thursday that it is offering to sell $500 million aggregate principal amount of unsecured senior notes due 2023 in a public offering underwritten by BofA Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as joint book-running managers. The 2023 Notes will be guaranteed by certain of the Company's subsidiaries.

The company noted that it intends to use proceeds from the offering, after the payment of fees and expenses, for repayment of its 5.250% senior unsecured notes due November 2014 at maturity and for general corporate purposes, including repayment of outstanding borrowings under its revolving credit facility to fund seasonal working capital, share repurchases and dividends.