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VF to price dollar-denominated senior notes in four tranches
By Rebecca Melvin
New York, April 21 – VF Corp. is offering dollar-denominated senior notes in four tranches, according to a 424B5 filing with the Securities and Exchange Commission.
The notes will have a make-whole call and then a par call.
Barclays, BofA Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, HSBC Securities (USA) Inc., ING Financial Markets LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC are the joint bookrunning managers of the deal.
The proceeds will be used to repay borrowings under the company’s senior unsecured revolving credit facility, with any remaining proceeds for general corporate purposes. Pending such uses, proceeds may be invested in short-term, investment-grade, interest-bearing securities, certificates of deposit or indirect or guaranteed obligations of the United States.
The lifestyle apparel company is based in Greensboro, N.C.
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