Kohl's raises debt, preferred, stock, convertibles shelf to $300 million

New York, March 6 - Kohl's Corp. added $250 million to its shelf registration with the Securities and Exchange Commission for total availability of $300 million, including $50 million of previously registered but unsold securities. The shelf covers debt securities, preferred stock, common stock and warrants. Any securities may be structured as convertibles.

The Menomonee Falls, Wis. department store company also registered 3.8 million shares to be sold in secondary stock offerings by four board members or family trusts.

Unless specified otherwise at the time of sale, Kohl's will use proceeds from securities sales for working capital, capital expenditures, to remodel existing stores, to repay debt and for other general corporate purposes. The company will not receive any proceeds from stock sold by the board members.

For the 39 weeks to Nov. 3, 2001, Kohl's had an earnings to fixed charge ratio of 5.00 times compared to 4.87 times for the comparable period of 2000.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.