Union-based home goods retailer Bed Bath & Beyond announced Tuesday that it has priced three senior unsecured notes series at $1.5 billion.
Of these notes, $300 million will mature in August 2024 and bear interest at an annual rate of 3.749 percent, $300 million will mature in August 2034 and will bear interest at a rate of 4.915 percent and $900 million will mature in August 2044, and will bear interest at a rate of 5.165 percent. The notes were all priced to yield.
The offering is expected to close on July 17. Proceeds from the offering will be used to repurchase stock and other general corporate purposes, the company noted.
In addition, Bed Bath announced that it entered into an agreement to repurchase $1.1 billion of the company’s stock following the closing of the notes offering.
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