Limited Brands Inc. (LTD), a premier retail company, recently announced an exchange offer for its outstanding 8.5% Senior Notes due 2019, originally issued on Jun 19, 2009, in a private offer aggregating $500 million in principal.
In accordance with the sale, Limited Brands entered into a registration rights agreement under which it offered to exchange the Senior Notes for new notes registered under the Securities Act of 1933. According to the terms of the registration statement, filed with the Securities and Exchange Commission, holders of the Senior Notes will be able to exchange them for new notes of an equal principal amount.
Unlike the Senior Notes, the new notes will not bear any riders restricting their transfer. Furthermore, the registration rights and additional interest provisions relating to Senior Notes will also not apply to the new notes.
Limited Brands sells lingerie, personal care and beauty products, apparel and accessories through 3,000 specialty stores spread across the U.S., and online at www.VictoriasSecret.com, www.BathandBodyWorks.com, www.HenriBendel.com and www.LaSenza.com. The flagship brands of Limited Brands include Victoria’s Secret, Pink, Bath & Body Works, C.O. Bigelow, La Senza, White Barn Candle Co. and Henri Bendel. Under the La Senza brand, Limited Brands also sells its products in Canada and 40 other countries
Read the full analyst report on “LTD”
Zacks Investment Research
