Neiman Marcus tenders for any and all $500 million 10 3/8% notes

By Jennifer Chiou

New York, Nov. 14 - Neiman Marcus Group, Inc. announced the start of its tender offer and consent solicitation for any and all of its roughly $500 million of 10 3/8% senior subordinated notes due 2015.

The company said that it plans to redeem any outstanding notes following the offer, which is scheduled to end at midnight ET on Dec. 12.

Neiman Marcus is offering a total consideration of $1,023.75 per $1,000 principal amount of notes, including a $20.00 consent payment for those who tender prior to 5 p.m. ET on Nov. 28.

The company will also pay accrued interest.

Holders may not tender their notes without delivering their consents and vice versa.

Proceeds from a $500 million first-lien incremental term loan due May 2018 will be used to fund the offer.

The information agent is Global Bondholder Services Corp. (866 952-2200 or 212 430-3774). Credit Suisse Securities (USA) LLC is the dealer manager and solicitation agent (800 820-1653 or call collect 212 325-2476).

Neiman Marcus is a Dallas-based chain of department stores.

© 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.