Coach: issues notes to finance Kate Spade acquisition.
(CercleFinance.com) - New York-based accessories maker Coach has priced senior unsecured notes for an aggregate principal amount of 1 billion dollars to finance the acquisition of its smaller rival Kate Spade.
The offering, which is scheduled to close on 20 June, consists of 400 million dollars of 3% senior unsecured notes due in 2022 and 600 million dollars of 4.125% senior unsecured notes due in 2027.
Coach said it intends to use the proceeds, together with cash on hand and term loans, to fund the purchase price of Kate Spade.
Coach began its tender offer for all of the outstanding shares of fashion designer at the end of May.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The offering, which is scheduled to close on 20 June, consists of 400 million dollars of 3% senior unsecured notes due in 2022 and 600 million dollars of 4.125% senior unsecured notes due in 2027.
Coach said it intends to use the proceeds, together with cash on hand and term loans, to fund the purchase price of Kate Spade.
Coach began its tender offer for all of the outstanding shares of fashion designer at the end of May.
Copyright (c) 2017 CercleFinance.com. All rights reserved.