Kohl's Corporation (NYSE: KSS) has announced the pricing of its private offering of $360 million aggregate principal amount of 10.000% senior secured notes due 2030. The notes will be guaranteed by Kohl's subsidiaries and certain guarantees will be secured by 11 distribution centers and e-commerce fulfillment facilities. The offering is expected to close on May 30, 2025.
Kohl's intends to use the net proceeds from the sale of the notes to repay borrowings under its revolving credit facility. The company expects to borrow under its revolving credit facility to repay all of its 4.25% notes due 2025 at maturity.
The notes have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption. The offering was made to "qualified institutional buyers" as defined in rule 144a under the Securities Act and to non-U.S. persons outside the United States pursuant to regulation s.
Kohl's is a leading omnichannel retailer with more than 1,100 stores in 49 states, online at kohls.com, and through the Kohl's app. The company is committed to making a positive impact in the communities it serves. As a result of these announcements, the company's shares have moved 4.72% on the market, and are now trading at a price of $8.765. For more information, read the company's full 8-K submission here.
