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Bon-Ton to redeem $57 million 10 5/8% notes due 2017 at par on Nov. 29
By Susanna Moon
Chicago, Sept. 30 – Bon-Ton Department Stores, Inc. is issuing a call for its $57 million of outstanding 10 5/8% second-lien senior secured due 2017, according to an 8-K filing with the Securities and Exchange Commission.
The notes will be redeemed at par plus accrued interest on Nov. 29.
“I am pleased that the company is repaying the 2017 senior notes well in advance of the July 2017 maturity date,” Nancy A. Walsh, the company’s executive vice president and chief financial officer, said in a company press release.
“The redemption meets our objective of reducing short-term debt and improving our capital structure.”
Wells Fargo Bank, NA is the trustee.
The company said on Aug. 15 that it planned to retire the remaining notes using some proceeds of a new $150 million ABL term loan due March 15, 2021.
The department store company is based in York, Pa.
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