Macy’s, Inc. Raises Approximately $4.5 Billion in Financing
06/08/20, 8:39 PM
Money raised
$4 billion
Macy’s, Inc. (NYSE:M) today announced the closing on approximately $4.5 billion of new financing, including its previously announced $1.3 billion of 8.375% senior secured notes, as well as a new $3.15 billion asset-based credit agreement. In addition, the company has amended and substantially reduced the credit commitments of its existing $1.5 billion unsecured credit agreement. The company intends to use the proceeds of the notes offering, along with cash on hand, to repay the outstanding borrowings under the existing $1.5 billion unsecured credit agreement.
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Additional Info
AccelFoods is an early-stage venture fund investing in consumer products.
We partner with entrepreneurs to bring innovative, high-quality food and
beverage products to the forefront of the industry and create the next
generation of enduring brands. With nearly $40m under management, we are
hands-on partners that work tactically with our founders to scale their
businesses quickly and smartly. We connect the dots within the broader food
& beverage ecosystem to provide unique access, share distinct expertise,
and build solid infrastructure.