Caleres sets Monday investor call for $200 million eight-year notes; pricing Tuesday

By Paul A. Harris

Portland, Ore., July 20 – Caleres Inc. scheduled a conference call with investors at 12:30 p.m. ET on Monday to roll out a $200 million offering of eight-year senior notes (existing ratings B1/BB), according to a syndicate source.

The Rule 144A and Regulation S for life deal is set to price Tuesday.

BofA Merrill Lynch, Wells Fargo Securities LLC and J.P. Morgan Securities LLC are the joint bookrunners.

The notes become callable after three years at par plus 75% of the coupon.

Proceeds, together with additional cash on hand, will be used to purchase any and all of the company’s outstanding $200 million 7⅛% senior notes due 2019.

Caleres is a St. Louis-based owner of a diverse portfolio of clothing and footwear brands.

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