MRO Magazine

Macy’s, Inc. to Redeem 8.125% Senior Notes Due 2035


June 22, 2015
By Business Wire News

CINCINNATI

Macy’s, Inc. (NYSE:M) today announced that its wholly owned subsidiary, Macy’s Retail Holdings, Inc., will redeem for cash the entire $76.016 million aggregate principal amount outstanding of its 8.125% Debentures due 2035 (CUSIP 577778BC6) on August 17, 2015. The 2035 debentures were issued in August 1995 by The May Department Stores Company and assumed by Macy’s in conjunction with its acquisition of May in August 2005.

The 2035 debentures will be redeemed at par together with interest accrued and unpaid to the redemption date. They become redeemable at 100% of the principal amount thereof at any time on or after August 15, 2015, pursuant to the terms of the debentures.

A notice of redemption is being sent to all currently registered holders of the 2035 debentures by the trustee, The Bank of New York Mellon Trust Company, N.A. Copies of the notice of redemption and additional information related to the procedure for redemption may be obtained from The Bank of New York Mellon Trust Company, N.A. by calling 1-800-254-2826.

Macy’s, Inc., with corporate offices in Cincinnati and New York, is one of the nation’s premier retailers, with fiscal 2014 sales of $28.105 billion. The company operates about 885 stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy’s, Bloomingdale’s, Bloomingdale’s Outlet and Bluemercury, as well as the macys.com, bloomingdales.com and bluemercury.com websites. Bloomingdale’s in Dubai is operated by Al Tayer Group LLC under a license agreement.

All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy’s management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, prevailing interest rates and non-recurring charges, competitive pressures from specialty stores, general merchandise stores, off-price and discount stores, manufacturers’ outlets, the Internet, mail-order catalogs and television shopping and general consumer spending levels, including the impact of the availability and level of consumer debt, the effect of weather and other factors identified in documents filed by the company with the Securities and Exchange Commission.

(NOTE: Additional information on Macy’s, Inc., including past news releases, is available at www.macysinc.com/pressroom).

Macy’s, Inc.
Media – Jim Sluzewski, 513-579-7764
or
Investor – Matt Stautberg, 513-579-7780