L Brands Announces Proposed $500 Million Offering of Senior Notes Due 2029 by Its Spin-Off Subsidiary, Victorias Secret Co.
COLUMBUS, Ohio, June 29, 2021 (GLOBE NEWSWIRE) -- L Brands, Inc. ( L Brands ) (NYSE: LB) announced today that its subsidiary, Victorias Secret Co. ( Victorias Secret ), is offering to sell $500 million aggregate principal amount of senior notes due 2029 (the Notes ) in a private placement offering to eligible purchasers, subject to market and other conditions. Victorias Secret is a recently formed company, which L Brands intends to separate from its current business by means of a spin-off to its shareholders (the Separation ).
L Brands Announces Proposed $500 Million Offering of Senior Notes Due 2029 by Its Spin-Off Subsidiary, Victorias Secret Co.
COLUMBUS, Ohio, June 29, 2021 (GLOBE NEWSWIRE) -- L Brands, Inc. ( L Brands ) (NYSE: LB) announced today that its subsidiary, Victorias Secret Co. ( Victorias Secret ), is offering to sell $500 million aggregate principal amount of senior notes due 2029 (the Notes ) in a private placement offering to eligible purchasers, subject to market and other conditions. Victorias Secret is a recently formed company, which L Brands intends to separate from its current business by means of a spin-off to its shareholders (the Separation ).