Ross Stores Prices $250 Mln Senior Notes Offering

(RTTNews) - Ross Stores, Inc. (ROST) said Tuesday that it has priced the public offering of $250 million of senior notes due in 2024.

The notes will be issued at a price of 99.329% of their principal amount and will bear interest at a rate of 3.375% per annum.

This note offering is projected to settle on September 18.

The company plans to use the net proceeds from the offering mainly to fund the purchase of its New York Buying Office building, which is expected to close by the end of September. Any remaining net proceeds from the offering will be used for general corporate purposes, which may include funding the Company's share repurchase program, meeting its working capital requirements, and funding capital expenditures related to its continued store growth and store remodeling programs.